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You are here: Home / Stocks / Commentary / TradingMarkets 7 Stocks You Need to Know for Monday: HPQ, WYNN, MRVL, NKE, TSN, HIBB, X

TradingMarkets 7 Stocks You Need to Know for Monday: HPQ, WYNN, MRVL, NKE, TSN, HIBB, X

November 19, 2010 by David Penn

Moderately overbought conditions are likely to greet traders and investors when markets open on Monday. While follow-through to the upside on Friday was minimal following Thursday’s major bounce, the rally on Thursday was enough to keep a majority of markets in or near overbought conditions.


^CRM^, noted in yesterday’s 7 Stocks You Need to Know for Friday, was the best performing stock in the Russell 2000 on Friday, gaining more 18% as it continued to follow-through to the upside after a five-day pullback above the 200-day moving average.


Here are 7 Stocks You Need to Know for Monday.


^HPQ^ climbed higher by well over 1% ahead of trading on Monday and the company’s scheduled quarterly earnings announcement. HPQ has been trading below its 200-day moving average since mid-March.


Closing lower for the third out of the past four trading days on Friday were shares of ^WYNN^ (below).


WYNN Chart


WYNN pulled back by more than 5% on the final trading day of the week. The stock has been trending lower above the 200-day moving average for the past nine days.


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Up over 6% on Friday were shares of ^MRVL^. MRVL had closed lower for eight out of the past nine trading days before Friday’s bounce.


Also following through to the upside after an extended pullback was ^NKE^, up more than 4% on Friday.


NKE Chart


Shares of the stock have closed higher for three days in a row following a four-day pullback that began last week.


Up five days in a row ahead of its scheduled earnings announcement on Friday is ^TSN^. The stock is overbought below its 200-day moving average.


^HIBB^ (below) was also among our 7 Stocks You Need to Know for Friday. Shares of HIBB gained more than 16% on Friday to close at new highs.


HIBB Chart


Closing higher for a third day in a row ahead of trading on Monday, the stock had been pulling back since late in the first week of November.


Rallying into overbought territory below its 200-day moving average on Friday were shares of ^X^. Trading below their 200-day moving average since mid-May, shares of X have closed higher for two days in a row.


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David Penn is Editor-in-Chief at TradingMarkets.com.

Filed Under: Commentary, Recent Tagged With: 7 Stocks You Need to Know, PowerRatings, stock trading, Stock Trading Strategies, Stock Trading with Stock PowerRatings, trading stocks

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