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7 Hot Stocks on Traders' Radars

Telecom Italia

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Nearest Resistance: $12

Nearest Support: $10.50

Catalyst: Italian Equity Rebound

Telecom Italia (TI) is one of the biggest beneficiaries from a rebound in Italian stocks today, rallying around 4% as of this writing. And it's getting heavy search volume as a result.

>>6 Tech Stocks That Rate Better Than Apple

Today's move is almost entirely technical. Shares broke above a very short-term double-bottom in shares, signaling an entry for daytraders after the glut of demand at $11 got taken out. While that level isn't strong enough to act as support right now, it's worth keeping in mind that it's likely to slow selling.

While there could be some upside in TI near-term, there are some more attractive setups forming in European stocks ( you can see five of them here).

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