TradingMarkets 7 Stocks You Need to Know for Thursday (KMX, DRI, NKE, ADBE, ADSK, CTAS, SHLD)
Sellers stepped up their pressure on the market on Wednesday. Closing lower for a second consecutive trading day were both the ^SPY^ and the ^QQQQ^. Similar pullbacks were to be found in international markets, with the ^FXI^ also off for a second session.
Looking to U.S. equities, we see pullbacks in ^S^, ^NYX^ and ^F^ among those stocks trading above their 200-day moving averages. Stocks bouncing toward overbought territory below the 200-day include ^AA^ and ^EXC^.
Here are 7 Stocks You Need to Know for Thursday
Among the biggest gainers on Wednesday were shares of ^KMX^, which soared by more than 8%. The stock has closed higher for four consecutive trading days going into Thursday.
Down four out of the past five days are shares of ^DRI^. The stock has traded above its 200-day moving average for the majority of the year, dipping below that level once in January and again in early July.
^NKE^ is scheduled to announce quarterly earnings Thursday after the close. The stock finished down half a percent on Wednesday and is as oversold above the 200-day moving average as it has been in several days.
After a week of growing more and more overbought, shares of ^ADBE^ plunged on Wednesday by more than 19% and are back below their 200-day moving average.
Pulling back by more than 4% on Wednesday were shares of ^ADSK^. The retreat marks the stock’s first significant pullback since rallying from its 200-day moving average in late August.
Also pulling back sharply above its 200-day moving average was ^CTAS^. Down well over 1% on Wednesday, the stock closed at new short-term lows
The biggest gainer in the Nasdaq 100 on Wednesday was ^SHLD^, which climbed back into overbought territory below the 200-day after a bounce of more than 5%.
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David Penn is Editor in Chief at TradingMarkets.com.