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4 Hot Stocks to Trade (or Not)

General Electric

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Nearest Resistance: $20.20

Nearest Support: $19.85

Catalyst: Solar Factory Suspended

Last up on our look at Wall Street's most active names is General Electric (GE - Get Report), another perennially popular name that's getting some extra attention after the firm announced that it would be suspending plans for a solar panel factory in Colorado due to headwinds in the green energy business. The news doesn't materially impact GE's business, but it is putting some extra eyes on shares today.

Technically, GE has been in a sharp near-term uptrend since the beginning of June, and the last week's price action currently just looks like a throwback to trendline support. I'd buy the bounce off of the $19.85 level this week.

If you decide to take this trade, make sure you put a protective stop in place.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

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At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on MSNBC.com.
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SYM TRADE IT LAST %CHG
MAKO $0.00 0.00%
BAC $16.94 0.00%
AA $11.03 0.00%
GE $26.31 0.00%
TSLA $279.72 -0.11%

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