Cliffs Natural Resources
Nearest Support: $20
Catalyst: Earnings Beat >>5 Rocket Stocks to Buy as Stocks Bounce On the other side of the spectrum is Cliffs Natural Resources ( CLF). Cliffs is up nearly 18% as I write today, buoyed by an earnings announcement that trounced Wall Street's bearish expectations. Cliffs earned 66 cents per share in the first quarter, besting the consensus estimate of 32 cents. While commodity-driven names like Cliffs have been under significant pressure in the last half year, CLF managed to pull off a good recovery this quarter -- and the price action points to more upside ahead. The move higher today in CLF is pushing shares right up against an important resisatnce level at $22. In the past, there's been enough selling pressure at that $22 level to absorb any bids getting tossed around by buyers. If shares can print above that price this time around, traders should take it as a buy signal. Keep a close eye on CLF this week.
MPG Office Trust
Nearest Support: $3.10
Catalyst: Acquisition Offer >>5 Hated Earnings Stocks That Deserve Your Love Small-cap real estate investment trust MPG Office Trust ( MPG) may be a stranger to the volume it's seeing today -- but the acquisition offer the firm received from a unit of Brookfield Office Properties ( BPO) is enough to make the trust one of the most actively traded stocks on the NYSE this afternoon. BPO's $3.15 per share offer ratcheted MPG more than 20% above yesterday's closing price this morning, and now shares are keeping close to that offer price. For investors who missed the gun, though, there isn't an opportunity here anymore.
Nearest Support: $25
Catalyst: Mixed Earnings Results Finally today, Safeway ( SWY) is getting sold off today after the grocer posted first-quarter numbers that Wall Street wasn't impressed by. While Safeway's earnings met the consensus estimates for the firm, it clearly wasn't enough to appease investors - and the stock is down more than 18% as a result. The drop comes just days after the IPO of Safeway's BlackHawk ( HAWK) gift card unit spurred shares higher. Now Safeway is looking rough from a technical analysis standpoint. While the firm does have a decent support level at $23 to rest on, this massive breakdown shattered the uptrend in shares that's been in place since all the way back in November. More downside looks like the likeliest outcome in the near-to-mid-term. 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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