Oil Sell-Off Sends Energy Stocks Reeling: 7 Stocks You Need to Know for Tuesday
A major reversal in crude oil helped send lower a number of energy stocks that began pulling back last week. Down four days in a row are both ^HAL^ and ^SLB^, both of which are trading in exceptionally oversold territory above the 200-day moving average.
^AA^ announced earnings after the close on Monday to unofficially kick-off earnings season. The stock had closed lower for three days in a row leading into Monday’s announcement.
Here are 7 Stocks You Need to Know for Tuesday
Down four out of the past five trading days, but not yet oversold above the 200-day moving average on Monday were shares of ^NOV^ (below).
Shares of NOV pulled back by more than 2% in Monday’s trading to close at their lowest level in more than three weeks.
Pullbacks of more than 3% in energy stocks like ^BHI^ and ^CAM^ were typical of the heavy selling in oil stocks on the first trading day of the week.
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Shares of ^WFC^ (below) closed lower for a third consecutive trading session on Monday.
Wells Fargo has been rangebound for more than a month, trading in a two-point range only a few cents above its 200-day moving average.
Shares of both ^CYH^ and ^THC^ (below) plunged on Monday as the companies battled in a war of words in the wake of a hostile, $3 billion bid CYH launched for Tenet Healthcare months ago.
Unlike CYH, shares of THC remain above their 200-day moving average despite pulling back by nearly 15% on Monday.
Shares of ^FRX^ broke out of a short-term trading range to close higher by more than 4% ahead of trading on Tuesday.
David Penn is Editor in Chief of TradingMarkets.com.