Buyers managed to edge out sellers on the final trading day of the week, pulling markets like the S&P 500 and the Nasdaq out of oversold territory and into neutral territory. Those stocks making the biggest gains were a mixed bag of technology (^JBL^ up more than 2%), energy (^SUN^ up more than 2%) and retail (Whole Foods Market, which also gained more than 2%. More on WFM below).
Here are 7 Stocks You Need to Know for Monday
Among the bigger gainers in the S&P 500 on Friday were shares of ^NVDA^. Shares of NVDA gained more than 3% as they followed-through to the upside after a three-day pullback that brought the stock to near-oversold levels.
Also higher ahead of trading on Monday were shares of Whole Foods Market ^WFM^. The stock rallied by more than 2%, closing higher for a second day in a row.
Down four days in a row ahead of its scheduled earnings announcement on Monday were shares of ^TSN^ (below).
TSN closed at its lowest level in more than a month on Friday and is oversold above the 200-day moving average.
Click here to subscribe to our free, daily 7 Stocks You Need to Know newsletter, now with a special section available only to subscribers.
^PCLN^ (below) is another stock that is both oversold and down for a fourth consecutive session.
Shares of Priceline dropped by well over 2% on Friday.
Is the worst of the selling over in the energy sector? Shares of oil stocks like ^HAL^ and ^NOV^ continue to trade lower ahead of Monday’s open. But both stocks were down only marginally on Friday.
After pulling back for four days in a row and closing in oversold territory, ^CAT^ regained the attention of buyers who moved tentatively back into the market for CAT shares in Friday’s trading.
Shares of CAT were up more than 1% intraday before pulling back to close just below that mark. The stock remains below its 5-day moving average.
Do you own a copy of Larry Connors’ best-selling book on trading?
Would you like one for free?
Click here to download your free copy of Short Term Trading Strategies That Work: A Quantified Guide to Trading Stocks and ETFs
David Penn is Editor in Chief of TradingMarkets.com