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7 Hot Stocks to Trade (or Not)

Masco

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Nearest Resistance: $13

Nearest Support: $11.50

Catalyst: Earnings Miss

Mid-cap building product maker Masco (MAS) is selling off around 5.3% right now thanks to an earnings miss that shoved shares to a loss in the second quarter after one-time charges were factored in.

>>7 Stocks for a Housing Rebound

The price move is pretty significant for shareholders right now. That's because Masco had been forming a bullish ascending triangle setup, but today's gap down pushed shares outside of the pattern. An aborted bullish pattern may as well be a bearish pattern, so at this point, I'd expect MAS to at least test support at $11.50.

Buyer beware.

As of the most recently reported quarter, Masco was one of David Tepper's Appaloosa Management holdigns.

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