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7 Hot Stocks on Traders' Radars

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Avid Technology

Nearest Resistance: $10

Nearest Support: $8.50

Catalyst: Poor Q1 Guidance

Meanwhile, Avid Technology (AVID) is getting outright shellacked today following underwhelming revenue guidance numbers for the first quarter. Avid doesn't actually announce its earnings until April 26, but those sales expectations are proving enough to get investors unloading shares of the video and audio editing software maker.

Buying pressure had been waning for a while in Avid; shares formed a descending triangle pattern for most of February and March, breaking down below then-support at $10 on today's massive gap-down.

At this point, the supply-demand imbalance in AVID means that the higher probability trade is to the downside.

Avid shows up on recent lists of 10 Stocks Leading the Way in the Housing Recovery and 9 Stocks That Prove Dividends Make All the Difference.

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CYT $0.00 0.00%
AVID $5.90 9.87%
FAST $46.55 2.15%
RAD $8.00 -0.12%
TZOO $7.66 -0.13%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

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