TradingMarkets 7 Stocks You Need to Know for Thursday: JOSB, MOT, KSS, BBY, MAS, VMC, JNJ
Short term oversold conditions in stocks again have led to a rally in the stock market. Among the bigger gainers going into Thursday’s trading were stocks like ^LOW^, rallying to close above its 200-day moving average for the first time since mid-June, and ^HD^, gaining well over 4% and also back above its 200-day.
Here are 7 Stocks You Need to Know for Thursday.
Shares of ^JOSB^ pulled back by more than 6% in trading on Wednesday. The pullback marked the stock’s lowest close in more than a week.
^MOT^ (below) rallied by more than 4% on Wednesday.
Shares of MOT bounced higher after closing lower for three days in a row – and six out of the previous seven – above the 200-day moving average.
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The buying on Wednesday helped provide a pause in the profit-taking in a number of retail stocks including ^KSS^ and ^BBY^ (below).
Like BBY, shares of retailer Kohl’s also had closed lower for three days in a row before Wednesday’s break-even trading session.
A number of materials companies were among the market’s biggest gainers at midweek. Trading below their 200-day moving averages and increasingly overbought were shares of ^MAS^ and ^VMC^ (below).
Both MAS and VMC were up more than 4% going into trading on Thursday.
Bounding back above its 200-day moving average after three consecutive lower closes were shares of ^JNJ^ on Wednesday.
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David Penn is Editor in Chief of TradingMarkets.com