TradingMarkets 7 Stocks You Need to Know for Thursday: TXN, DLM, HNZ, NVDA, COST, ORCL, WTI

Buyers stepped in to stem the tide of selling on Wednesday, relieving markets like the S&P 500 and the Nasdaq 100 of newly oversold conditions above the 200-day moving average. Making big moves higher ahead of trading on Thursday were stocks like ^YHOO^, which gained more than 3% after a two-day pullback that took the stock into oversold territory above the 200-day, and ^XLNX^. Shares of XLNX rallied by more than 5% after pulling back for two days.

Among the companies scheduled to report quarterly earnings on Thursday are ^KR^, ^BIG^ and ^MARVL^.

Here are 7 Stocks You Need to Know for Thursday.

Up more than 3% after a two-day pullback into oversold territory above the 200-day on Wednesday were shares of ^TXN^ (below).

TXN chart

TXN first pulled back into oversold territory above the 200-day moving average a week ago.

While shares of ^DLM^ advanced on Wednesday after a two-day pullback, fellow food group stock ^HNZ^ closed lower for a second consecutive trading day. Both companies are scheduled to report quarterly earnings Thursday morning before the market opens.

Shares of ^NVDA^ (below) closed lower for a third day in a row going into trading on Thursday.

NVDA chart

The pullback of more than 4% takes NVDA into oversold territory above the 200-day moving average. This is the stock’s first return to oversold territory since the first half of February.

^COST^ pulled back sharply again on Tuesday, retreating by more than 2% to close just outside of oversold territory above the 200-day moving average. Any significant follow-through selling to the downside will likely find shares of COST in oversold territory before week’s end.

Up by more than 1% ahead of trading on Thursday were shares of ^ORCL^. The stock, which was featured yesterday in 7 ETFs You Need to Know, closed lower for two days in a row before Wednesday’s bounce.

In one of the session’s bigger sell-offs, shares of ^WTI^ (below) plunged by more than 14% in trading on Wednesday.

WTI chart

The pullback in WTI puts the stock as its most oversold level since the first half of December 2010.

With 16 backtested strategies for trading bull markets, bear markets and sideways markets, Short Term Trading Strategies That Work by Larry Connors and Cesar Alvarez may be the most important trading book you read this year. Click here to order your copy of Short Term Trading Strategies That Work today.

David Penn is Editor in Chief of TradingMarkets.com