TradingMarkets 7 Stocks You Need to Know for Monday (MOT, NVDA, SLB, BHI, BJ, ORCL, WAG)
The pre-market futures left little to the imagination on Friday, as buyers surged into the market early and kept stocks aloft into the close to finish out the week. The S&P 500, Nasdaq and Dow industrials all closed at new short-term highs above the 200-day moving average and overbought conditions again characterize most equity markets.
Here are 7 Stocks You Need to Know for Monday
^MOT^ gained more than 3% on Friday as the company announced a special meeting of shareholders to vote on a proposed reverse stock split.
Many of the biggest gainers in the Nasdaq 100 at week’s end were up 5% or more and trading above their 200-day moving average. One stock that was up more than 5% intraday on Friday but trading below that critical level is ^NVDA^, which continues to trade in overbought territory.
Shares of NVDA have closed higher below the 200-day for five consecutive trading days.
Energy companies were also among those becoming increasingly overbought below the 200-day. Up by more than 4% and climbing deeper into overbought territory on Friday were shares of ^SLB^ and ^BHI^.
Down more than 2% above the 200-day moving average are shares of ^BJ^. BJ closed at its lowest level in more than a week on Friday.
Among the few blue chip stocks pulling back above the 200-day is ^ORCL^ which pulled back by more than 1% intraday on Friday before recouping half those losses going into the close. Friday also marked the stock’s second consecutive lower close.
Up more than 2% on Friday and closing in on overbought territory below the 200-day moving average are shares of ^WAG^. The drugstore chain reports quarterly earnings on Tuesday.
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David Penn is Editor in Chief at TradingMarkets.com.