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3 Hot Stocks to Trade (or Not)

News Corp.

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Nearest Resistance: $24

Nearest Support: $23

Catalyst: Earnings

Meanwhile, there is a high-probability trade brewing in shares of media conglomerate News Corp. (NWSA - Get Report) right now. The firm posted its earnings yesterday, slipping to a loss after a write-off the firm incurred in spinning off its publishing business. Still, investors took the loss in stride, and they've been pushing shares higher today despite a much lower open.

>>3 Internet Stocks Ready to Move Higher

So how should you trade it?

Shares of NWSA broke out at the end of July, and they've been throwing back for the past few market sessions. A throwback is essentially a return to retest a breakout level (in this case, support at $23). News Corp.'s throwback merely provides investors with a second chance at a low-risk entry. Just keep a protective stop just below $23 support.

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