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7 Hot Stocks on Traders' Radars

Align Technology

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Nearest Resistance: N/A

Nearest Support: $29

Catalyst: Positive Earnings

>>5 Rocket Stocks Worth Buying This Week

Meanwhile, orthodontic device maker Align Technology (ALGN - Get Report) is looking a lot more attractive right now. Shares of the $2.5 billion firm broke out above $29 resistance this morning on first quarter earnings results shoving their way to new 52-week highs in the process.

Making new highs is significant from an investor psychology standpoint because it means that everyone who has bought shares in the last year is sitting on gains. As a result, the "back to even" mentality is less of a concern than it would be for a name with a higher proportion of shareholders sitting on losses.

For late-to-the-game buyers though, I'd recommend sitting on the sidelines until ALGN pushes above today's high water mark.

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SYM TRADE IT LAST %CHG
ALGN $59.06 -0.76%
AMP $123.87 -0.60%
EAT $53.90 -0.90%
NFLX $561.89 -0.65%
TXN $53.86 -0.28%

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