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4 Hot Stocks on Traders' Radars

Stocks in this article: HAS RRGB GTAT AMD

Advanced Micro Devices

Nearest Resistance: $3.70

Nearest Support: $3.30

Catalyst: Technical Setup

Shares of Advanced Micro Devices (AMD) have spent most of the last six months trading in a haphazard range, bouncing between the $3.20 level and $4.60 topside. That's worth bringing up because AMD is seeing high volume for technical reasons this week. What's interesting about AMD is that this stock is extremely technically obedient -- it's exhibited a lot of textbook trades over the last few months. But those trades have been quick, so traders who want to take advantage need to be nimble.

Most recently, AMD broke out of an inverse head and shoulders bottom after being very oversold heading into February. Resistance at $3.70 looks a lot weaker than support at $3.30. AMD could have a lot further to move before it fizzles out.

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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At the time of publication, author was long AAPL. 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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