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4 Big Tech Stocks on Traders' Radars


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Nearest Resistance: $11
Nearest Support: $8.50
Catalyst: Hedge Fund Sells, Business Changes

>>5 Tech Stocks Spiking on Big Volume

Groupon ( GRPN) is enjoying a stellar run in 2013. Shares of the deal site have doubled since the start of the year, some consolation at least for the 62% loss that investors who bought at the IPO are sitting on.

Today, shares are taking a 4% haircut, the result of news that Tiger Global was a seller of GRPN for the past quarter and trepidation over a refreshed business model that focuses on selling payment systems for retailers over daily deals.

Groupon still has some major fundamental challenges to overcome at this point. Even so, the stock remains in a well-defined uptrend since March with support at $8.50. More nimble traders should look for a bounce off of support for an entry -- and less nimble traders should stay away from shares.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.


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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ALU $3.96 0.38%
CSCO $27.24 -0.09%
FB $105.60 -0.13%
GRPN $2.90 1.20%
AAPL $118.10 -0.66%


Chart of I:DJI
DOW 17,833.70 +21.51 0.12%
S&P 500 2,091.36 +2.22 0.11%
NASDAQ 5,121.56 +18.7520 0.37%

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