TradingMarkets 7 Stocks You Need to Know for Friday: JCP, JNPR, HAL, SLB, YHOO, BAC, NVDA
The stock market finished down again on Thursday, off session lows, but still at oversold levels as measured by the SPDR S&P 500 Trust ETF ^SPY^, which has closed in oversold territory for three days in a row.
Among the better performing stocks heading into Friday are shares of ^PCLN^, which gained more than 8% in Thursday’s trading and was among our 7 Stocks You Need to Know earlier this week. Energy stocks were under heavy selling pressure with many widely traded oil stocks becoming increasingly oversold ahead of trading on Friday.
Here are 7 Stocks You Need to Know for Friday.
Reporting quarterly earnings before the market opens on Friday is ^JCP^. The stock gained more than 2% in Thursday’s trading after a two-day pullback.
Shares of ^JNPR^ (below) were also among the session’s better performers on Thursday.
JNPR rallied by more than 4% on Thursday in response to a three-day pullback that took the stock into oversold territory above the 200-day moving average.
Energy shares were the main source of selling again with Thursday, with stocks like ^HAL^ and ^SLB^ (below) down for three out of the past four trading days and three days in a row, respectively.
SLB’s pullback of more than 3% sent the stock into oversold territory above the 200-day moving average ahead of Friday’s open.
Among Nasdaq 100 stocks, ^YHOO^ is one of the more oversold, having closed lower for four trading days in a row as of Thursday.
Down for a fourth trading day in a row in Thursday’s trading were shares of ^BAC^ (below).
Shares of BAC lost more than 1% ahead of Friday’s session, and are at their most oversold since rallying back above the 200-day moving average at the beginning of the month.
Shares of ^NVDA^ gained more than 2% in trading on Thursday after a three-day pullback that took the stock into oversold territory above the 200-day moving average.
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David Penn is Editor in Chief of TradingMarkets.com