NokiaNearest Resistance: $4.80
Nearest Support: $3.50
Catalyst: Technical Setup >>5 Huge Stocks You Need to Sell Beleaguered cell phone maker Nokia ( NOK) is getting plenty of investor attention today, and not for the best of reasons. The $13.7 billion firm typically sees big trading volume because of its conspicuous spot on the NYSE, but today, it's getting some extra attention thanks to the technical setup in shares. While shares have made some auspicious upside progress in 2013, a reversal looks likely from here. Nokia is forming a head and shoulders top, a price setup that indicates exhaustion among buyers. The neckline level for shares is $3.50, the stock's nearest support level. If shares slip through there, I'd recommend unloading any long positions in NOK. Shares flirted with price in the high $3.50s today, so the breakdown may not be far off.
J.C. PenneyNearest Resistance: $21
Nearest Support: $16
Catalyst: Earnings Miss >>4 Loser Stocks Poised for a Comeback in 2013 It's a good thing J.C. Penney ( JCP) changed its tagline from "Doing It Right" back in the 1980s, because the department store chain's stock looks all kinds of wrong today. As I write, shares are down 15% on the day after JCP announced a worse-than-expected loss for the fourth quarter. For those keeping score (namely shareholders), that brings the stock's losses in the last 12 months to 56%. And it doesn't look likely to get much better in the near-term. While shares spent the last few months consolidating sideways, today's gap down effectively derails any semblance of progress in the battle between buyers and sellers. Support at $16 is going to be a key level to watch. A crack into the mid-teens would represent a generational low for shares of the retailer, and a big sell signal for traders.
CommonWealth REITNearest Resistance: $23.50
Nearest Support: $21
Catalyst: Buyout Bid and Share Offering It's been an eventful week for small-cap industrial landlord CommonWealth REIT ( CWH); shares of the trust have rallied more than 45% since Monday's close. The catalyst? A buyout offer for $27 per share. But there's more to the story than meets the eye. CWH snubbed the buyout offer by going forward with a share offering yesterday to raise $570 million. Management thinks they have more upside in pursuing strategic alternatives themselves rather than biting on the acquisition offer, and the $4 spread between CWH's current price and the buyout price is the risk that they'll fall short. If nothing else, this week's drama puts a lot more eyes on this small real estate investment trust. While headline risk is still big for CommonWealth, I'd look at a move through $23.50 as a short-term buy signal. To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr. -- Written by Jonas Elmerraji in Baltimore.
Twitter and become a fan on Facebook.