TradingMarkets 7 Stocks You Need to Know for Friday (AIG, OXY, BHI, AXP, F, BMY, EBAY)
Sellers maintained a modest advantage over buyers on Thursday as markets opened higher and closed lower on the day. Finishing lower were major index ETFs like the ^SPY^, the ^QQQQ^, and the ^IWM^. Of the three, the QQQQ are the most oversold above the 200-day moving average.
Shares of stocks that have been highlighted in 7 Stocks over the past few days continue to pullback in many instances, including the drop of more than 1% on Thursday in ^EMC^ and the ongoing retreat in ^KFT^, which closed down for a fourth day on Thursday.
Here are 7 Stocks You Need to Know for Friday.
Up by more than 4% on Thursday and closing higher for a fifth day in a row were shares of ^AIG^. The stock closed at its highest level since the first half of August.
Among the stocks climbing higher and deeper into overbought territory below the 200-day moving average are a pair of energy stocks in ^OXY^ and ^BHI^ (below).
A large number of stocks are pulling back ahead of trading on Friday, with many down multiple days in a row above the 200-day moving average. Included in these stocks that are moving toward
oversold territory are ^AXP^, which lost 2% on Thursday and closed lower for a second consecutive session, and ^F^ (below), which has closed down for three out of the past four trading days.
Down five out of the past six trading days are shares of ^BMY^. The stock is still trading above its highest levels of the summer despite the pick up in selling in recent days.
Shares of ^EBAY^ (below) pulled back by more than 2% on Thursday after closing higher for four consecutive trading days.
The stock is only recently back above its 200-day moving average, having closed above that level at the end of August.
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David Penn is Editor in Chief at TradingMarkets.com.