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3 Huge Stocks to Trade (or Not)

Now shares are testing that $7.75 resistance level in today's session. A breakout above that price level signals this stock as a buy. When it happens, keep a tight stop in place.

MetroPCS

Nearest Resistance: $11
Nearest Support: $9.50
Catalyst: T-Mobile Merger Drama

>>5 Trades Getting Ready to Pop

Significant trading activity is getting sparked in shares of MetroPCS (PCS) this week after some public drama has unfolded over the small-cap cell phone carrier's planned merger with T-Mobile. Despite winning regulatory approval to join forces, independent advisors and some shareholder groups are recommending against the combination that's spotlighted some of the significant value in PCS' share price.

One of the more vocal shareholders has been John Paulson, PCS' largest shareholder, who has characterized the deal terms as unfair to MetroPCS shareholders. With shares sitting just below resistance at $11, this is one merger name that could see some unexpected upside in the near-term.

Gilead Sciences

Nearest Resistance: N/A
Nearest Support: $44
Catalyst: Patent Win

Biopharmaceutical firm Gilead Sciences (GILD - Get Report) is seeing continuation in trading today after a patent win against Idenix Pharmaceuticals ( IDIX) gave the firm the upper hand in the early stages of a fight over a hepatitis C drug. The news has sent shares of GILD pushing through to new highs this week, a bullish condition in and of itself.

>>5 Stocks Ready to Break Out

Making new highs is significant from an investor psychology standpoint because it means that everyone who has bought shares in the last year is sitting on gains - as a result, the "back to even" mentality is less of a concern than it would be for a name with a higher proportion of shareholders sitting on losses. Investors who aren't too risk-averse may want to consider buying 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, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to
TheStreet . Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily , and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.
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