TradingMarkets 7 Stocks You Need to Know for Friday: BJ, MWW, EXPE, BIDU, EBAY, MEE, SUN
Heading into the final trading day of 2010, the Nasdaq 100 has pulled back into oversold territory, while the Russell 2000 Index of small cap stocks retreated to just outside oversold above the 200-day moving average.
Thursday’s big gainers include ^APC^, up more than 6% and closing higher for a fifth consecutive trading day, and ^TLAB^. Shares of TLAB were up nearly 2% after pulling back for four out of the previous sessions.
Here are 7 Stocks You Need to Know for Friday.
^BJ^, noted in yesterday’s 7 Stocks You Need to Know, continued to gain ground ahead of trading on Friday. The stock closed higher by nearly 2% after gapping up to a one-month high on Wednesday.
Shares of ^MWW^ (below) closed above their 5-day moving average on Thursday, gaining almost 2% on the day.
The stock rallied into strength after pulling back for four out of the previous five trading days.
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Pulling back on Thursday for the fifth out of the past six trading days were shares of ^EXPE^ (below).
EXPE began the week in oversold territory above the 200-day, closing at those levels on both Monday and Tuesday.
Shares of ^BIDU^ have closed lower for five out of the past six consecutive sessions going into Friday’s trading.
Back in oversold territory above the 200-day moving average on Thursday were shares of ^EBAY^ (below).
EBAY has been trending lower since mid-month, including a string of six straight lower closes leading into the Christmas holiday.
Representative of the renewed buying in energy stocks were the new highs in shares of both ^MEE^ and ^SUN^. Up more than 1% on the day, both stocks crossed into overbought territory above the 200-day moving average ahead of trading on Friday.
David Penn is Editor in Chief of TradingMarkets.com