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3 Huge Stocks to Trade (or Not)

Altria

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Nearest Resistance: $34.25

Nearest Support: $32.60

Catalyst: Q3 Earnings Date

>>5 Big Stocks to Trade This Earnings Season

First up is "sin stock" giant Altria (MO - Get Report), the firm behind cigarette brands like Marlboro here in the U.S. as well as an active portfolio of wine properties. With a market capitalization of nearly $67 billion, there's no doubt that Altria is a big name -- but the firm's announcement that it' third-quarter earnings webcast is slated for Oct. 25 is spurring bigger volume than usual this afternoon. Since earnings are such a high-risk event, it's not uncommon for traders and investors to shed positions ahead of an earnings call. That's what we're seeing now.

At this point, selling Altria might not be such a bad idea. The firm topped out in late July, and it's been trending lower since. For most of September, shares consolidated sideways in a rectangle, but they're testing a breakdown below support at $32.60 right now. A move below that level makes more downside likely. Buyer beware.

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