Nearest Support: $45
Catalyst: Q2 Earnings >>5 Hated Earnings Stocks That You Should Love Industrial supplier Fastenal ( FAST) saw high trading volume this week after the firm announced its second-quarter earnings numbers on Monday. FAST earned 41 cents for the quarter, more or less in line with consensus estimates. Fastenal also posted store growth for the quarter, increasing its brick-and-mortar locations by 22 stores. While Fastenal's trading volume ticked higher, its price didn't do a whole lot this past week -- but it's setting up for a move substantive move. FAST has been forming an ascending triangle bottom for the past few weeks, with resistance at $47. Investors should look at a move above the $47 as a signal to jump into shares.
Family Dollar Stores
Nearest Support: $65
Catalyst: Q3 Earnings >>5 Stocks Setting Up to Break Out Family Dollar Stores ( FDO) posted some earnings data of its own this week, earning $1.05 for its fiscal third quarter. Wall Street had been expecting earnings of $1.03. The numbers were well received by investors, who bid shares up significantly at Wednesday's open, shoving the stock through a resistance level that had been keeping FDO restrained for the last few months. The news has the stock at a new 52-week high. 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 risk-averse can consider putting on a position here. For another take on Family Dollar, check out " 5 Hated Earnings Stocks That You Should Love."
Nearest Support: $16
Catalyst: Technical Setup >>5 Rocket Stocks to Buy for Earnings Season Duke Realty ( DRE) was another breakout name from this past week, after getting buoyed by some analyst comments. But it's this stock's technical setup that gave it the momentum for yesterday's 3% move. For the last month, Duke has been forming an inverse head and shoulders pattern, with a neckline level at $16. When shares moved through that level on Wednesday, the combination of bullish analysts and Ben Bernanke's comments helped fuel yesterday's gap higher. From here, more upside looks likely, particularly because there isn't any noticeable resistance for DRE to hit until $17.50. If you decide to jump in here, just keep a tight stop at the 200-day moving average.
Nu Skin Enterprises
Nearest Support: $62.50
Catalyst: Guidance Boost >>3 Big Stocks on Traders' Radars It's been quite a week for Nu Skin Enterprises ( NUS); shares of the $4.5 billion direct sales firm have rallied 21% since Monday, slingshotted higher by an increased second quarter outlook that surprised Wall Street. That increased guidance increased earnings expectations substantially, spurred on in large part by success in Asian markets. Nu Skin reports its official numbers on July 22. From a technical standpoint, the move in NUS completes an ascending triangle that's been in play since it broke out five trading sessions ago. With supply of shares practically nonexistent above $62.50, NUS got plenty of room to run higher. After yesterday's small correction, I'd recommend waiting for shares to find some semblance of support again before taking a position. 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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