Nearest Support: $50
Catalyst: Guidance Miss >>5 Consumer Stocks Ready to Push Higher Despite the press release eBay ( EBAY) put out after the close yesterday describing "Strong First Quarter 2013 Results," Mr. Market isn't impressed. Shares of the online auction site are down more than 5% as I write, retreating thanks to weak second quarter guidance. That guidance spurred a couple of downgrades from Wall Street, as well, sending weak hands flying for the the "sell" button. EBAY gapped down this morning, but its price action could be worse. Today's move isn't threating the longer-term uptrend in shares since November, and strong support at $50 is closer than the firm's closest resistance level at $58. Shorter-term, that should spell a decent risk/reward tradeoff once shares settle down.
Nearest Support: $51
Catalyst: Earnings Beat >>5 Hated Earnings Stocks That Deserve Your Love Telco giant Verizon Communications ( VZ) is one name that's actually enjoying some upside today. Shares of the $146 communications stock are up around 3.5% this afternoon after the firm topped analysts' first-quarter earnings consensus by 3 cents. That buying pressure is breaking Verizon's stock out to a new multi-year high today. 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; if you're looking to build a long position, I'd recommend a protective stop at $49 support.
Nearest Support: $80
Catalyst: Earnings Beat >>5 Consumer Stocks Ready to Push Higher This Week We're seeing the exact same story play out in shares of PepsiCo ( PEP) today. Shares of the snack and beverage giant are up 3.5% this afternoon after besting consensus estimates by 6 cents, and posting sales in line with analysts' targets. Consumer non-cyclicals such as PEP have been on fire for the better part of 2013, and this fundamentally driven confirmation of higher highs in price bodes well for traders right now. Pepsi's breakout this afternoon is pushing shares up to a new all-time high. While gains-taking has tempered this stock's high-water mark form this morning, now is still a good time to take advantage of PEP's continuing momentum. Nearby support at $80 makes a good stop loss level. 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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