Long Position on FLT @ $51.43 on 12/3/2012 (Momentum)

FleetCor Technologies (FLT) provides specialized payment products and services to businesses, commercial fleets, oil companies, petroleum marketers, and government entities in North America, Europe, South Africa, and Asia.

It sells a range of customized fleet and lodging payment programs; and offers various card products to purchase fuel, lodging, and related products and services at participating locations. The company also offers prepaid fuel and food vouchers and cards, as well as a telematics solution that enables fleet operators to monitor the capacity utilization and movement of vehicles and drivers.

It owns and operates eight proprietary closed-loop networks through which it electronically connects to merchants, and captures, analyzes, and reports customized information.

In addition, the company uses third-party networks to deliver its payment programs and services; and provides a range of services, such as issuing and processing, and specialized information services. It sells its products and services directly, as well as through strategic relationships with oil companies and petroleum marketers.

Shares have formed a bullish "Cup & Handle" and higher prices are expected for this stock.

52-Week Trading Range:   $28.12 - $52.87

Last Trade:   $51.43

Stop Loss:   $48.85

Target Price: $56.57

Position closed on 1/4/2013 at price of $55.16 with a 7.25% gain in 32 days.

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