Nearest Support: $3
Catalyst: New Product, Technical Setup >> 3 Tech Stocks Spiking on Big Volume After posting a mixed third quarter last week, chipmaker Advanced Micro Devices ( AMD) is getting more eyes on it today with the announcement of the Radeon R9 290X graphics card, a product that takes aim at pricier offerings from Nvidia ( NVDA). Shares of AMD are up close to 5% as I write following the press release. Looking at the technicals, it's pretty clear that today's product announcement is more an excuse for a bounce in AMD than a reason for one. Shares have been selling off following the third quarter's earnings on Dec. 17, and the stock wasn't able to hold support at $3.25, falling down to $3 instead. AMD is still in a downtrend right now, even if it's an ugly one -- I'd recommend staying away until more buying pressure comes into play.
Nearest Support: $10
Catalyst: Earnings >>5 Stocks With Big Insider Buying Fusion-IO ( FIO) is getting absolutely shellacked today after swinging to a loss for its fiscal first quarter, reporting weak guidance, and announcing that CFO Dennis Wolf would be leaving the company. That trifecta has been enough to shove shares more than 25% lower in today's session. There's no two ways about it -- FIO's chart is broken. This stock has spent all of 2013 in a well-defined downtrend, but today's huge gap down is causing bigger problems. $10 has been a pretty important support level, but shares are testing a break into the single-digits today. Stay away from this name right now. Xerox Nearest Resistance: $11
Nearest Support: $9.50
Catalyst: Outlook >>Do You Own These Blue-Chips? Sell Them! Xerox ( XRX) is another name that's under pressure this afternoon, after announcing that the current quarter's earnings could fall short of estimates due to restructuring charges. While shares opened lower this morning, that decline has been widening out over the course of today's session. If that doesn't send a strong message to traders right now, nothing will. XRX has been in a solid uptrend all year long, but that uptrend broke with today's selloff. That's not a "buy the dips" scenario though; it's the clearest technical sell signal there is. While there's nearby support at $9.50, I think it's a little too optimistic to think that XRX can still catch a bid there. Caveat emptor. To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr. -- Written by Jonas Elmerraji in Baltimore.
Twitter and become a fan on Facebook.