Barnes & Noble

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Nearest Resistance: $26

Nearest Support: $20

Catalyst: Major Nook Investment

Book seller Barnes & Noble ( BKS) is getting similar attention today, the result of a $300 million investment that Microsoft ( MSFT) made in the new subsidiary that BKS created to control its Nook product and college bookstore businesses. The investment values BKS' subsidiary at $1.7 billion -- more than the bookstore's own market valuation right now.

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The massive gap up in shares of Barnes & Noble adds a lot of uncertainty to the way this stock is trading from a technical perspective. For traders looking to take advantage of the activity in this stock, I'd strongly recommend waiting for BKS to test a more substantial support level before becoming a buyer.

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