TradingMarkets 7 Stocks You Need to Know for Monday (C, BIDU, AMZN, EXPE, HPQ, NFLX, AAPL)
U.S. equity markets look likely to open mixed when trading begins Monday morning. With the Nasdaq 100 (basis the ^QQQQ^) very oversold, the Russell 1000 (basis the ^IWM^) overbought and the S&P 500 (basis ^SPY^) more or less in neutral territory, traders will have the opportunity to be more discriminating in their short term trading in the first full week of trading in October.
Here are 7 Stocks You Need to Know for Monday
Among the day’s bigger gainers was ^C^ on Friday. Citigroup gained more than 4%, closing at its highest levels since late July.
Down more than 3% on Friday and closing lower for a second straight trading day (and three out of the past four) were shares of ^BIDU^ (below).
Despite the strong selling in recent days, BIDU shares are still more or less range-bound above the 200-day moving average and remain near year-to-date highs.
Pulling back by more than 2% in Friday’s trading and closing lower for four out of the past five trading days was ^AMZN^. The stock is among the most oversold in the Nasdaq 100 that is trading above the 200-day moving average.
After becoming exceptionally overbought below the 200-day moving average early in the week, shares of ^HPQ^ continue to lose ground, closing lower by more than 3% in trading on Friday.
There are few stocks trading above the 200-day moving average that have seen more selling than ^EXPE^ in recent days.
Shares of Expedia Inc. have closed lower for five days in a row. The stock is more oversold than it has been since late August, shortly before EXPE rocketed upward away from its 200-day moving average.
^NFLX^ pulled back by more than 4% above the 200-day on Friday, closing lower for a second straight session. Down four out of the past five trading days and moving closer to oversold territory above the 200-day were shares of ^AAPL^.
Markets only move in three directions: up, down and side to side. Click here to learn why combining quantified mean reversion (pullback) strategies with quantified trend following strategies can be an excellent way for traders and investors to put money to work in all of all market conditions.
David Penn is Editor in Chief at TradingMarkets.com.