Nearest Support: $4.20
Catalyst: Microsoft Acquisition News >>4 Tech Stocks Under $10 Moving Higher It shouldn't come as a big surprise that handset maker Nokia ( NOK) is trading on high volume this afternoon -- the firm has been one of the most heavily-traded names on the NYSE ever since the announcement that Microsoft ( MSFT) was buying its handset unit and licensing patents and mapping services for $7.2 billion. The news takes Nokia's least-profitable (and most public) business off of the firm -- and puts it on Microsoft instead. It's no surprise then that shares of NOK rallied to new highs on the acquisition news. 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 may want to consider jumping in here; just keep a tight stop in place.
Nearest Support: $10
Catalyst: Selling Itself By November >>3 Tech Stocks Spiking on Big Volume Another cell phone stock on today's list is BlackBerry ( BBRY). The volatile cell phone stock is getting bid up on big volume after management announced the firm's plan to sell itself by November. BBRY has been hinting at pursuing "strategic alternatives" (investment bank parlance for a sale) for a while now, but the November deadline gives traders a very short-term target to focus on. From a technical standpoint, BBRY looks attractive right now. Shares have been forming a rounding bottom pattern for about a month, signaling a gradual transition of control of shares from sellers to buyers. Resistance is currently in place at $11.50. If BBRY can hold a bid above $11.50, then we've got an indication that buyers have swept control. Wait for $11.50 to get busted though before buying BlackBerry.
Nearest Support: $5.75
Catalyst: Bullish Analyst Note >>5 Big Trades for a September Bounce Shares of semiconductor stock Himax Technologies ( HIMX) are up 8% this afternoon, following a bullish note from Craig-Hallum that argued for a big increase in Himax's LCOS microdisplay business. The mini displays are a notable part of Google's ( GOOG) Glass headgear, one of the most exciting products coming out of Silicon Valley right now. But forget about the long-term growth runways at HIMX for a minute. This stock's technicals look ready to run now. HIMX has been consolidating for the summer in a bullish setup called an ascending triangle. Resistance for the pattern comes in at $7.75, a price that's getting tested in today's session. If HIMX can hold above that $7.75 level into tomorrow's open, it makes sense to be a buyer.
Nearest Support: $25
Catalyst: LTE acquisition, Analyst Note >>5 Stocks Insiders Love Right Now The tailwind of a big acquisition and analyst upgrade are helping Broadcom ( BRCM) rally today: Asian investment group CLSA penned a bullish note on BRCM after the firm announced the purchase of $164 million in 4G LTE assets from Renesas. Shares of Broadcom are up 2.6% on high volume in today's session as a result. Broadcom looks "bottomy" right now. The chipmaker has shown investors some sickening performance this summer, falling hard on the heels of its July earnings call. But a rounding bottom in this stock spells the potential to regain much of that lost ground. Resistance at $27 is the level to watch right now; if BRCM can push through $27, buying shares becomes a high-probability 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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