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3 Hot Stocks to Trade (or Not)


Nearest Resistance: $25.50
Nearest Support: $24
Catalyst: Dividend Initiation and Buyback Hike

>>3 Tech Stocks Under $10 to Watch

Another name that's rallying today -- albeit less violently -- is EMC ( EMC). EMC is up more than 5% in this afternoon's early trading after the firm announced that it was initiating a 10-cent quarterly dividend and buying an extra $5 billion worth of its own shares. The dividend gives EMC a currently yield of 1.7%.

From a technical standpoint, EMC has had a rough year. While today's solid move higher is helping, it hasn't broken the technical downtrend that's been pressing shares lower for all of 2013. Investors should watch out for overhead resistance at $25.50.

Barrick Gold

Nearest Resistance: $21.20
Nearest Support: $19
Catalyst: Miner Rally

Gold miners are rallying hard on gold's bounce today, and $21 billion mining firm Barrick Gold ( ABX) is leading the pack in terms of trading volume this afternoon. Barrick is one of the largest gold producers in the world, with more than 140 million ounces of the yellow metal in its proven reserves, so it's no huge surprise that it's become the go-to way to get exposure to gold miners.

Barrick looks stellar from a technical standpoint. While the stock bottomed out in late April, it's been forming a bullish ascending triangle bottom more recently, and shares are testing resistance at $21.20 today. If ABX can hold above $21.20 tomorrow, I'd call that a buy signal.

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 Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

Follow Jonas on Twitter @JonasElmerraji

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