Nearest Support: $16.50
Catalyst: Surprise Profit A surprise first-quarter profit is spiking shares of communications stock Ciena ( CIEN) today, with shares up 16% as I write this afternoon. Analysts had expected a net loss for the quarter, but the firm actually earned 12 cents per share. Ciena has already seen three times its normal daily volume halfway though Thursday's market session. Shares of Ciena had been consolidating sideways for the last quarter and change, but today's massive gap up changes that. The move also puts $18 resistance within reach this month as the broad market pushes through to new highs. While risk is outsized right now in CIEN with shares so close to resistance, that tradeoff flips once resistance gets taken out. I'd recommend being a buyer on a move through $18.
Nearest Support: $20
Catalyst: New Highs Rental car firm Hertz Global Holdings ( HTZ) is another name that's seeing extra trading activity today because of the new highs being hit in shares. The stock is up just 2% today, but the move is putting HTZ within grabbing distance of the all-time highs Hertz put in back in 2007. How Hertz has been making those highs is important too. The stock has been trading in a tight range since November, bouncing within an uptrending channel. That channel gives us a high-probability range for HTZ's price action. I'd recommend waiting for shares to bounce off of trend line support before trying to jump into this stock. MGIC Investment Nearest Resistance: $6
Nearest Support: $3.25
Catalyst: Share Offering Shares of mortgage insurer MGIC Investment ( MTG) are down 10% this afternoon following a well-timed $1.1 billion stock and bond issuance this week. Despite today's decline, shares of MTG are still up more than 82% in the last month off the heels of a better-than-expected fourth-quarter earnings call. While the offering pulled the rug out from under the rally in shares, investors are still hanging onto the vast majority of their gains. If they want to keep those gains, they'd be well-advised to sell now. MTG had a volatile rally into this month, and a decline could be just as swift. Today's inability to even touch yesterday's price action is telling that buyers have lost their control of shares. Now looks like a good time to be a seller. Navistar International Nearest Resistance: $35
Nearest Support: $27
Catalyst: Earnings Surprise Navistar International ( NAV) surprised investors after the close yesterday with a less-worse loss than expected. The news is sending shares of the truck maker up more than 25% as I write today. While analysts expected a loss of $1.76 per share, the firm only lost $1.42. That may sound like cold comfort, but in fact the loss is a huge improvement from the same quarter a year ago -- and investors are showing their appreciation with their dollars.
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