Exxon, Chevron Trade Lower as Majors Join Oil Sector Slide: 7 Stocks You Need to Know for Wednesday

While financial and technology stocks managed to pare back losses heading into the close, energy stocks continue to be in the crosshairs of sellers. In addition to stocks like ^HAL^, which pulled back by another 3% ahead of trading on Wednesday to close lower for a fifth day in a row, oil majors like Exxon Mobil and Chevron (more on both below) came under heavy selling on the day.

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Here are 7 Stocks You Need to Know for Wednesday.

As noted above, oil majors like ^XOM^ and ^CVX^ (below) have pulled back along with the overall correction in oil stocks.

CVX chart

Both stocks have closed lower for two days in a row, with shares of CVX down more than 3% ahead of trading on Wednesday.

After pulling back into oversold territory on Monday, shares of ^NFLX^ rallied sharply on Wednesday, gaining more than 2% to finish the day just shy of its 5-day moving average.

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^AMGN^ climbed back above its 200-day moving average on Tuesday, closing above that level for the first time since early February.

Shares of ^BIDU^ (below) pulled back by more than 3% in trading on Tuesday after a sharp three-day rally pushed the stock into overbought territory above the 200-day moving average.

BIDU chart

BIDU has not closed in oversold territory above the 200-day moving average since the second half of February. The stock is up more than 20% since that oversold close.

Sellers are back at work in the semiconductor market, with a number of top stocks from the sector closing lower for a third or even fourth session going into trading on Wednesday. Typical of the retreat in semiconductor stocks was the pullback of 2% in ^MXIM^ (below).

MXIM chart

Down three days in a row, MXIM joins a growing number of stocks from the sector that are trading in oversold territory.

Scheduled to report quarterly earnings on Wednesday, ^JPM^ has closed lower for three out of the past four trading days.

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David Penn is Editor in Chief of TradingMarkets.com