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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

4 Hot Stocks to Trade (or Not)

Family Dollar Stores

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Nearest Resistance: N/A
Nearest Support: $65
Catalyst: Q3 Earnings

>>5 Stocks Setting Up to Break Out

Family Dollar Stores (FDO) posted some earnings data of its own this week, earning $1.05 for its fiscal third quarter. Wall Street had been expecting earnings of $1.03. The numbers were well received by investors, who bid shares up significantly at Wednesday's open, shoving the stock through a resistance level that had been keeping FDO restrained for the last few months. The news has the stock at a new 52-week high.

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 risk-averse can consider putting on a position here.

For another take on Family Dollar, check out "5 Hated Earnings Stocks That You Should Love."

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