Profit-Taking in Energies, Amazon.com Rallies to New Highs: 7 Stocks You Need to Know for Tuesday
Sellers took gains from recent advances in a number of oil and gas stocks on the first trading day of the week. But even more aggressive selling in small cap stocks helped send indexes like the iShares Russell 2000 Index lower into oversold territory after finishing last week in overbought territory.
Among the companies scheduled to report quarterly earnings on Tuesday are ^MA^ and ^PFE^. Shares of PFE have closed higher for six consecutive trading days and are overbought above the 200-day moving average.
Here are 7 Stocks You Need to Know for Tuesday
Reporting quarterly earnings on Monday were a number of energy companies, from ^APC^ to ^MEE^. Shares of APC rallied by more than 1%, closing higher for a third session in a row and on the verge of overbought territory above the 200-day moving average.
Meanwhile, reversing to the downside after its own three-day advance, shares of Massey Energy remain in neutral territory heading into trading on Tuesday.
Down nearly 5% and closing lower for the fourth day out of the past five is ^WFMI^ (below).
The Monday pullback in WFMI puts the stock back in oversold territory for the second day in the past three.
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Renewed selling in energy shares sent stocks like ^BHI^ down by more than 4% and ^HAL^ (below) down more than 3%.
Shares of Halliburton have pulled back for three out of the past four trading days.
Going against the tide of selling in the oil and gas business was ^OXY^. Shares of OXY were up more than 1% on Monday, closing higher for a fifth day in a row.
Shares of ^AMZN^ (below) rallied to a new short term high on Monday.
AMZN gained well over 2% heading into Tuesday’s trading. It was the stock’s third higher close in the past four trading days.
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David Penn is Editor in Chief of TradingMarkets.com