NEW YORK (TheStreet) -- Good morning traders!

Today's picks are Mobile TeleSystems (MBT) - Get ReportMannKind (MNKD) - Get Report and Office Depot (ODP) - Get Report.

1. First, let's look at Mobile TeleSystems, a mobile and fixed-line voice and data telecommunications services in Russia and the former Soviet states.

Mobile TeleSystems traded up on Wednesday, closing up 1.5% to $17.61 per share.

  • Wednesday's range: $17.24 - $17.62
  • 52-week range: $15.06 - $24.06
  • Wednesday's volume: 2,830,278
  • 3-month average volume: 3,872,090

Mobile TeleSystems is a rounded bottom breakout that has confirmed and reconfirmed. Wednesday, the chart formed a bullish engulfing signal, kind of. Shares closed above near-term resistance levels yesterday with volumes increasing on bullish moves.

The next overhead resistance is at about $18. I'd set a stop at about $16.80, just below the 20-day simple moving average. Target the 200-day simple moving average at $19.71, which is almost 12% to the upside from yesterday's close. Mobile TeleSystems has reached the breakout level, so watch for strength today on the break.

Mobile Telesystems is reporting earnings on Tuesday, May 20, so be careful of that. I don't like to hold over earnings, but do as you wish. Trading over earnings can be very profitable, but it can also drain your trading account.

Stay long until you see a confirmed sell signal or a close below the t-line.

2. Next, let's look at MannKind, a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diabetes and cancer in the U.S.

MannKind traded big yesterday, closing up 6.53% to $7.01 per share.

  • Wednesday's range: $6.58 - $7.24
  • 52-week range: $3.80 - $8.70
  • Wednesday's volume: 16,617,021
  • 3-month average volume: 10,317,400

MannKind tried to break out yesterday, but failed to close above the $7.01 breakout level. We need to see confirmation today -- continued strength and increased volumes -- to get into this trade.

Mannkind is "newsy," and can be volatile, so watch this trade closely. I would enter this trade on any positive trading, and start with a 1/4 position, then add to it as it crosses the $7 level.

There is resistance at yesterday's high of $7.24-ish, then again at $7.50, and the recent high of about $8. Target the 52-week high of $8.70, which is 18% from yesterday's close, but don't be afraid to take smaller profits of just a couple of percentage points. That is still a win. 

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I'd set a stop at $6.10 and stay long until you see a sell signal or a close below the t-line.

3. Next is Office Depot, the office supply company.

Office Depot traded down yesterday, down 3.47% to $5.29 per share.

  • Wednesday's range: $5.27 - $5.52
  • 52-week range: $3.77 - $5.85
  • Wednesday's volume: 21,554,173
  • 3-month average volume: 10,536,700

Office Depot has been trading nicely, up 26% in the last seven trading days -- now that's a lot in a few days.

Charts will not sustain steep inclines for too long, so they need to consolidate. That is what Office Depot is doing now. There is some profit taking, too. Frankly, if I was in this trade, I'd be taking profits as well.

I'd look for an entry around $5.08 to $5.15, and set a stop around $5. Target the 52-week high of $5.85, which is almost 10% from yesterday's close. If you are able to enter around $5, that will be another couple percent to the upside.

There is resistance at $5.35, $5.45, $5.62 and again at the 52-week high. Stay long until you see a sell signal, or a close below the t-line.

Good luck traders!

"Mankind is divided into three classes: those that are immovable, those that are movable, and those that move."
~Arabian proverb

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At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.