Nearest Support: $12.50
Catalyst: Ackman Board Resignation >>5 Stocks With Big Insider Buying Department store retailer J.C. Penney ( JCP) has been catching headlines after hedge fund manager Bill Ackman conspicuously resigned from the firm's board earlier this week. Ackman, Penney's largest investor, had been feuding with management over how to right JCP's struggling ship. The resignation should help to calm some of the drama surrounding this stock for a while -- and opening the door for the possibility of an offer to take the retailer private. JCP's chart has been forming a rectangle pattern for the last handful of trading sessions, with resistance to the upside at $13.75 and support below shares at $12.50. I'd recommend becoming a buyer if JCP can crack $13.75.
Nearest Support: $73
Catalyst: Earnings, Outlook Miss >>5 Big Stocks to Trade Now The world's biggest retailer, Wal-Mart ( WMT), just barely missed Wall Street's earnings expectations for the second quarter, making $1.24 per share. That fell short of estimates by a single penny, but it's the lackluster outlook that's sending shares down 2.5% in this afternoon's trading. WMT is looks "toppy" from a technical standpoint. The stock has been forming a double top pattern in the long-term, a setup that triggers a sell if shares move through support at $73. If you decide to go short there, it makes sense to keep a protective stop at the 50-day moving average.
Nearest Support: $50
Catalyst: Earnings Beat >>5 Short-Squeeze Stocks Ready to Pop Last up on our list of most-active names today is Kohl's ( KSS), a stock that's seeing hefty trading volume after posting good earnings numbers for the second quarter. Kohl's earned $1.04 per share for the quarter, the result of fatter margins thanks to bigger private label offerings in its stores. Shares are up 4.5% this afternoon on the news, flirting with setting 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. Wait for $54 resistance to get taken out before jumping into this trade. 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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