TradingMarkets 7 Stocks You Need to Know for Wednesday: COST, AZO, ORCL, COF, BA, UPS, FDX

Sellers began taking profits from the two-day rally that had boosted the S&P 500, Nasdaq 100 and Russell 2000 back into overbought territory in the short term. Some of the biggest pullbacks ahead of trading on Wednesday include the retreat of more than 6% and 5%, respectively in both ^CCL^ and  ^CHK^. Both CCL and CHK are trading above their 200-day moving averages.

Scheduled to report quarterly earnings before the market opens on Wednesday are ^SPLS^, which reversed to close back below its 200-day moving average on Tuesday, and ^BJ^. Shares of BJ were down for a second day in a row, pulling back by less than 1%.

Here are 7 Stocks You Need to Know for Wednesday.

Among the companies reporting quarterly earnings on Wednesday is ^COST^ (below). Shares of Costco were down more than 1% after a three-day rally that took the stock to the edge of overbought territory above the 200-day moving average.

COST chart

COST traded in oversold territory as recently as last week.

Up more than 2% and back in overbought territory above the 200-day moving average ahead of trading on Wednesday were shares of ^AZO^. AZO beat earnings estimates in its announcement before the bell Tuesday morning.

^ORCL^ (below) pulled back by more than 3% in trading on Tuesday.

ORCL chart

The pullback in Oracle takes the stock down to the lower end of a trading range that has lasted for more than a month. ORCL is not yet in oversold territory.

Down three days in a row and closing in oversold territory above the 200-day moving average ahead of trading on Wednesday were shares of ^COF^ (below).

COF chart

The pullback in COF takes the stock to its most oversold level since the stock climbed back above its 200-day moving average in December 2010.

Traders continued to take profits in shares of Boeing ^BA^, with the stock closing lower for a second day in a row above the 200-day.

Both down more than 2% on the day, both ^UPS^ and ^FDX^ closed on Tuesday at their lowest levels in a month. But only FedEx managed to pullback into oversold territory above the 200-day moving average, the stock’s second oversold close in the past five days.

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David Penn is Editor in Chief of TradingMarkets.com