Nearest Support: N/A
Catalyst: Lowered Growth Targets >>5 Stocks Hedge Funds Hate -- but Should You? Yesterday, Cisco Systems ( CSCO) hosted its annual Financial Analyst Conference in New York, an event that's attended by the Wall Street research departments that cover the $108 billion IP networking hardware and software firm. During the conference, CFO Frank Calderoni announced that CSCO expected lower growth outlooks than Wall Street had been pricing in, spurring a small loss on high volume today. The news is just the latest in a series of negative fundamentals from Cisco -- and you can see it in the chart. CSCO is at the bottom of a downtrending channel, a bearish setup that points to little buying activity in this stock. I'd suggest staying away from shares.
Nearest Support: $57
Catalyst: Q4 Earnings >>5 Stocks Insiders Love Right Now The exact opposite is happening in shares of Adobe Systems ( ADBE). The $30 billion creative software company is up more than 11% this afternoon following positive fourth-quarter earnings that proved bullish enough to shove shares to new highs. In recent years, Adobe's decision to move from a conventional software model to a cloud-based recurring subscription model made some shareholders anxious - but it's clearly delivering impressive performance in ADBE right now. Today's breakout is a buying opportunity for momentum traders.
Nearest Support: $72
Catalyst: CEO Shakeup >>Sell These 5 Toxic Stocks to Avoid a Christmas Crash Mobile chipmaker Qualcomm ( QCOM) is getting high-volume attention today following news that COO Steve Mollenkopf was taking the CEO's desk after being courted for the chief executive role over at Microsoft ( MSFT). Keeping Mollenkopf was important enough to QCOM that the firm is ousting current CEO Paul Jacobs on March 4 of next year to make room for Mollenkopf. That's not to say that Jacobs is against the move -- he had a big role in the decision. Jacobs will remain executive chairman of the board. From a technical standpoint, Qualcomm is currently consolidating in a rectangle pattern with resistance at $74. Look for a breakout above that medium-term price ceiling as a buy signal in this mobile semiconductor giant. 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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