Retail Rallies Amid Continued Selling; Kraft, Visa Beat Estimates: 7 Stocks You Need to Know for Friday
Retail stocks showed strength through most of Thursday’s session. But even retailers like ^M^ and ^ANF^ that made significant gains on the day were unable to help the broader market avoid another down day.
Biggest gainers heading into trading on Friday include ^JDSU^, up more than 6%, and ^ERTS^. ERTS was up well over 8%, soaring to new highs after a two-day pullback took the stock to the edge of oversold territory above the 200-day moving average.
Here are 7 Stocks You Need to Know for Friday.
As traders continue to abandon positions in commodities – especially precious metals – stocks like ^PAAS^ continue to feel heavy selling pressure. PAAS pulled back by more than 4% in trading on Thursday, closing below its 200-day moving average for the first time in several months.
^WFC^ has closed below its 200-day moving average for a second straight session. The stock is trading at its lowest levels of the year.
Down by more than 5% ahead of trading on Friday were shares of ^JOYG^ (below).
Shares of JOYG have traded in oversold territory for the past three consecutive trading days.
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Sellers sent shares of ^TBL^ tumbling by more than 26% in trading on Thursday. One of the stocks we highlighted yesterday in 7 Stocks You Need to Know, TBL is trading at its lowest level since mid-February.
Up three days in a row and now overbought below the 200-day moving average is ^TGT^ (below).
The stock’s gain of well over 2% was indicative of the relative strength in the retail sector late in the week.
After closing lower for four out of the previous five sessions, shares of ^JBL^ rallied by more than 5%.
Shares of ^COP^ (below) pulled back by more than 2% in trading on Thursday.
COP has closed lower for four days in a row, with the past three closes in oversold territory above the 200-day moving average.
David Penn is Editor in Chief of TradingMarkets.com