Nearest Support: $29
Catalyst: Industry Insanity >>5 Big Stocks to Trade for Gains It's been quite a week for Potash ( POT). Shares of the $26 billion firm are up 1% on high volume today after dropping more than 20% from Monday's open. The whole fertilizer industry is getting shaken up after Russia-based Uralkali ended a joint venture with Belaruskali that controlled around 43% of the potash market. With lower potash prices looking imminent, the whole industry is getting shellacked this week. POT is just one of the more high profile movers. Today, shares of POT are trying to establish support on high trading volume. That level looks pretty strong at $29. With support so near by, and resistance well overhead and $37, August could be a good time to start building a position in POT. I'd recommend waiting for a more meaningful move off of $29 first.
Nearest Support: $5.60
Catalyst: Earnings >>5 Tech Stocks Under $10 Triggering Breakouts Sprint ( S) is getting a 6% shot in the arm this afternoon, following earnings numbers that forecast a return to subscriber growth after losing names for the last seven months straight. Despite taking a big hit from winding down its Nextel unit during the quarter, Sprint is looking stronger now that Japan's Softbank owns 78% of shares. Wall Street's reaction to the earnings release is evidence of that. From a technical standpoint, there are probably more questions than answers on Sprint's chart. Shares are currently sitting in between resistance at $6.80 and support down at $5.60. Despite today's big boost, shares are still trading in the middle of that range. Until Sprint can resolve a direction, I'd recommend staying away.
Nearest Support: $14
Catalyst: Credit Rebuttal >>5 Stocks Set to Soar on Bullish Earnings Shares of retail giant J.C. Penney ( JCP) are finding some buoyancy again after dropping double digits in yesterday's session. The trigger was news that commercial lender CIT Group was starting to cut off credit to some of Penney's suppliers -- a major vote of concern for JCP's ability to pay its bills. Management refuted the claims today, boosting shares by 2.5%. This stock is still down considerably on the week. Penney's drop is less concerning than it would be if shares had dropped below an important technical level. Instead, $14 still looks like strong support in JCP. That's not to say that shares look especially bullish from here -- the stock is still in a downtrend since its May highs. Even so, it doesn't look like the floor is going to fall out from here. 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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