Short term oversold extremes and growing pessimism brought out buyers in droves on Thursday, sending stocks like ^DLM^ up by more than 8% and ^YHOO^ up by more than 5%.
Retail stocks that had advanced earlier in the week came under significant profit-taking in many instances. Pulling back above the 200-day moving average were retailers like ^ROST^ and ^FL^.
Here are 7 Stocks You Need to Know for Friday.
Up more than 5% and closing higher for a second consecutive session were shares of ^HAL^ on Thursday.
Pulling back by more than 10% above its 200-day moving average ahead of trading on Friday was ^WSM^. (below)
The sell-off in WSM took the stock to its most oversold levels since late August. Including Thursday’s decline, shares of WSM have closed lower for four out of the past five trading days.
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Also lower for four out of the past five trading days above the 200-day were shares of ^PETM^.
^HIBB^ closed higher for a fourth consecutive trading day ahead of its scheduled quarterly earnings announcement on the final trading day of the week.
Meanwhile, pulling back by more than 1% ahead of its Friday earnings announcement was retailer ^ANN^ (below).
Shares of ANN were dramatically higher on Wednesday, rallying after an extended, seven-day pullback in the stock.
Up more than 5% after a five-day pullback were shares of ^CRM^ (below).
CRM had closed in oversold territory above the 200-day moving average for two days in a row before Thursday’s advance.
After closing lower for five days in a row, shares of ^NTAP^ closed higher by more than 7% ahead of trading on Friday.
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David Penn is Editor in Chief of TradingMarkets.com