TradingMarkets 7 Stocks You Need to Know for Wednesday: BAC, BONT, NFLX, S, NVDA, AMZN, LOW
Financials were a source of strength as we move toward midweek, with stocks like ^AXP^ up more than 3% and ^C^ gaining more than 2%.
Heading into trading on Wednesday, U.S. markets are likely to open in neutral territory, with the stocks of the Nasdaq 100, in general, more inclined toward the oversold than their fellow stocks in the S&P 500, for example.
Here are 7 Stocks You Need to Know.
Bank of America ^BAC^ rallied by more than 4% after a two-day pullback. The rally takes BAC up to the edge of overbought territory above the 200-day moving average.
Up well over 2% after a three-day pullback into oversold territory above the 200-day moving average on Tuesday were shares of ^BONT^. Bon-Ton Stores is scheduled to report quarterly earnings Wednesday morning before the market opens.
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Pulling back sharply on Tuesday and closing lower for a second day in a row ahead of trading on Wednesday were shares of ^NFLX^ (below).
NFLX closed down more than 5%, ending the day just outside of oversold territory above the 200-day moving average.
^S^ continues to attract aggressive buying. The stock has closed higher for five days in row, the last two above the 200-day moving average. Shares of S gained more than 4% on Tuesday alone.
^NVDA^ (below) pulled back by 4% ahead of trading on Wednesday.
The drop in NVIDIA Corporation puts the stock back in oversold territory above the 200-day moving average. NVDA has closed in oversold territory for three out of the past five trading days.
Down three days in a row and oversold above the 200-day moving average are shares of ^AMZN^ (below).
Shares of AMZN pulled back by less than 1% on Tuesday and are back in oversold territory where the stock was exactly one week ago today.
Rallying by more than 2% on Tuesday were shares of ^LOW^. Shares of LOW advanced after a two-day pullback.
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David Penn is Editor in Chief of TradingMarkets.com