Nearest Support: $2.77
Catalyst: Major Share Sale >>3 Big Stocks Rising on Big Volume Retail pharmacy chain Rite Aid ( RAD) is getting hefty trading volume in today's session after news that Canadian pharmacy retailer Jean Coutu Group unloaded 72.5 million shares of RAD according to a filing with the SEC. The Canadian group has been Rite Aid's biggest shareholder since a deal between the two firm that closed in 2007. After the sale, Coutu retains a large ownership stake in Rite Aid. Despite the hefty selling pressure, RAD is holding up well from a technical standpoint. Shares fell down to the 50-day moving average as the broad market corrected over the last couple of weeks, but that average has held up as strong support in the last few sessions. Traders looking for an entry opportunity in RAD should buy the next thrust off of the 50-day. Just keep a tight stop in place if you do.
Nearest Support: N/A
Catalyst: Ratings Cut, Gold Spot Price >>5 Short-Squeeze Stocks Primed to Pop Barrick Gold ( ABX) remains the go-to equity proxy for everyone's favorite precious metal in this market. Gold prices have gotten shellacked in the last few months, down more than 26% year-to-date. And Barrick shareholders with they saw similar price performance in 2013: the gold miner is down 57% over the same time period. More recently, some of that selling has come as the hands of an analyst downgrade from Credit Suisse that knocked the firm's rating from outperform to neutral. Technically, ABX has a broken chart. There's no semblance of support for Barrick, and lower levels look likely -- even if shares are bouncing modestly today. I'd recommend staying away from the long-side of Barrick right now. Gold looks like it's going to settle lower.
Nearest Support: $9.40
Catalyst: Technical Setup >>5 Stocks With Big Insider Buying Meanwhile, the exact opposite setup is shaping up in regional bank Regions Financial ( RF). Regions has been in an uptrend for all of 2013, enjoying leadership alongside the rest of the financial sector. And shares of the firm are breaking out to new highs today after taking out resistance at $9.40. Now that level is support. 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. Risk-tolerant traders can enter a position here with a tight stop in place. 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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