Nearest Support: $7.25
Catalyst: Technical Setup >>5 Big Stocks to Trade as S&P Tests Record Highs Boston Scientific ( BSX - Get Report) is seeing significant trading volume today -- and this week, in fact -- thanks to an attractive technical setup that's been forming in shares. BSX has been consolidating sideways in a rectangle pattern for the better part of 2013, bouncing off of horizontal resistance at $7.75 and horizontal support down at $7.25. Consolidations like the one in BSX are common after large price moves because they give investors a chance to catch their breath and figure out their next moves; after the 35% rally in BSX over the last six months, this stock certainly qualifies.
Nearest Support: $9.50
Catalyst: T-Mobile Merger Drama >>5 Trades Getting Ready to Pop Significant trading activity is getting sparked in shares of MetroPCS ( PCS) this week after some public drama has unfolded over the small-cap cell phone carrier's planned merger with T-Mobile. Despite winning regulatory approval to join forces, independent advisors and some shareholder groups are recommending against the combination that's spotlighted some of the significant value in PCS' share price. One of the more vocal shareholders has been John Paulson, PCS' largest shareholder, who has characterized the deal terms as unfair to MetroPCS shareholders. With shares sitting just below resistance at $11, this is one merger name that could see some unexpected upside in the near-term. Gilead Sciences Nearest Resistance: N/A
Nearest Support: $44
Catalyst: Patent Win Biopharmaceutical firm Gilead Sciences ( GILD - Get Report) is seeing continuation in trading today after a patent win against Idenix Pharmaceuticals ( IDIX) gave the firm the upper hand in the early stages of a fight over a hepatitis C drug. The news has sent shares of GILD pushing through to new highs this week, a bullish condition in and of itself. >>5 Stocks Ready to Break Out Making new highs is significant from an investor psychology standpoint because it means that everyone who has bought shares in the last year is sitting on gains - as a result, the "back to even" mentality is less of a concern than it would be for a name with a higher proportion of shareholders sitting on losses. Investors who aren't too risk-averse may want to consider buying here. 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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