Traders Take Profits at Week’s End, Gains in Financials Trimmed

Among the leaders in Thursday’s session, financial stocks were among the chief targets of profit-takers on Friday, with the ^XLF^ dropping by more than 3%. Leading the way lower were such stocks as ^CMA^ and Keycorp. More on Keycorp below.

Although no sector was spared at least some selling, technology was one area where neither buyers or sellers were able to take advantage. Shares of ^RHT^ gained 2%, while ^KLAC^ rallied by more than 3%.

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Here are 7 Stocks You Need to Know for Monday

After climbing for three days, shares of ^S^ reversed sharply on Friday, closing lower by nearly 10%. Sprint has been trading below its 200-day moving average since late July.

Semiconductor stocks continue to be a source of strength heading into trading on Monday. Up more than 1% were stocks such as ^INTC^ and ^ALTR^. Shares of ^NVLS^ gained more than 2%. Of the three, only Intel is trading above its 200-day moving average.

Also closing higher for a fourth day in a row were big retailers like ^HD^, which added 1% to finish in overbought territory ahead of trading on Monday.

Note that yesterday’s Daily Double 7s stock ^KEY^ sold off by nearly 6% on Friday after rallying to new overbought highs below the 200-day moving average.

The Daily Double 7s stock for Monday is ^BBY^. Shares of BBY climbed to a new 7-day closing high below the 200-day moving average on Friday, adding more than 2%. BBY has finished higher for four days in a row and is also newly in overbought territory.

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David Penn is Editor in Chief of TradingMarkets.com