34.00 support level is big for NYX
NYX has been beaten up lately, however it found great support above 34.00. This stock is a candidate to buy here and hold for several days. The company is healthy and it has a viable business (stocks will continue to trade). There has been some merger news surrounding the stock lately and that is the reason for the quick decline.
On a technical note, the 34.00 level is huge, if the price breaks below then there will be downside pressure. NYX is still above the 200 day moving average. The volume has also picked up in this stock over the last few months.
NYSE Euronext, through its subsidiaries, operates securities exchanges. It operates various stock exchanges, including the New York Stock Exchange (NYSE), NYSE Arca, Inc., and NYSE Amex LLC in the United States; and five European-based exchanges that comprise Euronext N.V. the Paris, Amsterdam, Brussels, and Lisbon stock exchanges, as well as the NYSE Liffe derivatives markets in London, Paris, Amsterdam, Brussels, and Lisbon.
* Check out Day Trade Well’s daily newsletter The Daily Technician, including over 30 support and resistance ideas every morning! Find it every morning under the Analysis section on HFL.com and sign up to receive the email every morning.