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7 Hot Stocks to Trade (or Not)


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Nearest Resistance: $2.00

Nearest Support: $1.75

Catalyst: "Less Bad" Earnings

Shares of mobile phone maker Nokia (NOK - Get Report) are pushing more than 7% higher today, the result of "less bad" earnings than analysts had been expecting. Yes, Nokia did post a 1.41 billion euro loss for the quarter -- a bigger one than last year's too -- but Wall Street was expecting the worst, and investors were pleasantly surprised by the actual result.

From a technical standpoint, though, investors should still be expecting the worst. Shares have a strong resistance level at $2, and they've got weak support at best propping up prices at $1.75.

The sustained downtrend that shares have been in since late March hasn't abated yet, and the pop in Nokia is fading into the afternoon. I'd look to go short on a push below $1.75.

For another take on Nokia, it was also featured recently in " 6 Hated Stocks to Stay Away From."
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EDU $39.14 -0.53%
EBAY $24.42 -0.79%
NOK $5.87 -0.84%
MS $27.06 -0.62%
WAG $81.65 2.05%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

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