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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 $23.16 4.47%
EBAY $57.13 -0.95%
NOK $7.55 -0.40%
MS $35.97 0.78%
WAG $81.65 2.05%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

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