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4 Hot Stocks to Trade (or Not)

Citigroup

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Nearest Resistance: $31

Nearest Support: $29

Catalyst: CDO Suit Settlement

>>10 Bank Stock Value Picks

Last up is big bank Citigroup (C - Get Report), a stock that's getting ample attention today after news that the firm agreed to pay $590 million to settle a lawsuit over misrepresenting exposure to toxic CDOs after the real estate bubble burst. Ultimately, the settlement is a slap on the wrist for Citi, and isn't likely to have a big impact on its share price despite the extra trading volume it's spurring.

Shares are close to $29 support right now, still in an uptrend from the stock's double bottom back in late July. For Citi bulls, this throwback to $29 is a good second chance at a low-risk entry point.

Just keep a tight stop under that $29 level if you want to be a buyer here.

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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Follow Stockpickr on Twitter and become a fan on Facebook.

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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