Nearest Support: $32
Catalyst: Earnings Surprise >>4 Tech Stocks Spiking on Big Volume Facebook ( FB) is busting through to levels not seen since last summer on the heels of strong earnings results for the second quarter. The firm earned a profit of $333 million -- or 13 cents per share -- besting investors' very muted expectations. Even though analysts had been hoping to see 14 cents in earnings, market participants were clearly surprised by the numbers that the social network posted, pushing shares to new 52-week highs. Shares were nearly 30% higher at the opening bell. 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.
Nearest Support: $27
Catalyst: Guidance Scare >>5 Stocks Set to Soar on Bullish Earnings Investors in Broadcom ( BRCM) are seeing the exact opposite response to this week's earnings call. Shares of the chipmaker fell like a brick on Tuesday, following guidance that pointed to more losses on the way. All told, shares are down 20% since Monday's open, a massive drop for a stock that hadn't exactly been keeping pace with the S&P 500 for the first part of the year. Broadcom is seeing high volume early in today's session as shares bounce -- not a big surprise given how far and how fast shares have slipped this week. From a technical standpoint, BRCM had been forming a head and shoulders pattern with a neckline at $32. Once that level broke on Tuesday, the complete lack of bids for shares in yesterday's session wasn't a huge surprise. Buyers should continue to beware until BRCM can establish some semblance of support again.
Nearest Support: $61
Catalyst: Q3 Profit Increase >>2 Tech Stocks Gearing Up to Break Out Qualcomm ( QCOM) is up more than 4% this morning, after the firm posted adjusted earnings of $1.03 per share; Wall Street was expecting 91 cents. That profit surprise along with strong guidance expectations are helping to fuel buying in the communications technology giant, even if the technicals could look a lot better. In the very short-term, QCOM has triggered an inverse head and shoulders pattern, but it's practically reached its price objective today. Resistance at $66 should be a more important litmus test for upward mobility in QCOM's share price right now. 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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