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3 Hot Stocks to Trade (or Not)

Regions Financial

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Nearest Resistance: N/A
Nearest Support: $9.40
Catalyst: Technical Setup

>>5 Stocks With Big Insider Buying

Meanwhile, the exact opposite setup is shaping up in regional bank Regions Financial ( RF). Regions has been in an uptrend for all of 2013, enjoying leadership alongside the rest of the financial sector. And shares of the firm are breaking out to new highs today after taking out resistance at $9.40. Now that level is support.

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.

Risk-tolerant traders can enter a position here with a tight stop in place.

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.

Follow Jonas on Twitter @JonasElmerraji
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