Stocks rallied on Wednesday from short-term oversold conditions. Among the big gainers on the day were shares of ^TSO^, up more than 6%, and ^CREE^, which gained nearly 10% in closing above its 200-day moving average for the first time since the first half of August.
The stock market will be closed on Thursday for the Thanksgiving holiday. The next 7 Stocks You Need to Know will be published after the close on Friday.
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^MWW^ was the star of the S&P 500 on the eve of the Thanksgiving holiday, gaining well over 9% and closing higher for a fifth consecutive day.
Retail on sale? Shares of ^AEO^ (below) pulled back by more than 2% on Wednesday.
Prior to Wednesday’s pullback, AEO had closed higher for five out of the previous six trading days above the 200-day moving average.
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Meanwhile, more typical of the trading in the retail sector in recent days was the gain of more than 10% in ^GES^. Shares of GES have closed higher for six consecutive sessions ahead of trading on Friday.
Up more than 3% after a two-day pullback were shares of ^TGT^ (below) on Wednesday.
Target has been trading back above its 200-day moving average on a consistent basis since early November.
One day after bouncing into overbought territory below the 200-day moving average, shares of ^BIG^ were on the retreat, losing nearly 2% intraday on Wednesday before rallying into the close.
It took a three-day pullback in ^ORCL^ (below) to bring buyers back into the market for the stock at midweek.
The stock is up more than 2% going into trading on Friday. Shares of ORCL have been trending lower in general since the beginning of November.
A modest pullback in ^HPQ^ on Wednesdady trimmed gains in the stock after a four-day rally.
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David Penn is Editor in Chief of TradingMarkets.com