Traders Start Week Selling While Buyers Rally Energies Late in the Session: 7 Stocks You Need to Know for Tuesday
Sellers were off to a fast start on Monday, sending stocks tumbling into oversold territory at the open. Buyers remains hesitant about returning to financials, but energy shares were among those moving higher late in the trading day.
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Here are 7 Stocks You Need to Know for Tuesday.
Edging still higher heading into trading on Tuesday and closing in overbought territory were shares of ^NLFX^. NFLX has closed higher for four days in a row, and is nearing its highest levels of the year.
Shares of ^ORCL^ (below) pulled back by more than 3% in trading on Monday.
ORCL ended Monday’s session just outside of oversold territory above the 200-day moving average. Monday’s down close represented the stock’s second lower finish in a row.
The best performing stock in the S&P 500 is ^CF^. The stock gained more than 6% on Monday, closing higher for the third session out of the past four.
Pulling back for three days in a row going into its scheduled earnings announcement on Tuesday are shares of ^AMAT^ (below).
AMAT is now oversold above the 200-day, having closed lower for six out of the past seven sessions.
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^MDT^ (below) has pulled back into oversold territory above the 200-day moving average ahead of its scheduled earnings announcement on Tuesday.
Monday’s retreat marks MDT’s third lower close in a row. The stock pulled back by more than 2%.
Down more than 3% ahead of trading on Tuesday and closing lower for a second session in a row are shares of ^PCLN^.
Traders continue the stampede out of financial stocks on the first trading day of the week.
Pulling back for a third day in a row and oversold above the 200-day moving average is ^JPM^.
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David Penn is Editor in Chief of TradingMarkets.com