TradingMarkets 7 Stocks You Need to Know for Monday: NFLX, WFMI, ORCL, BIG, JWN, RIMM, CLX
Stocks edged higher on the final trading day of the week, as volatility continues to drop at a rapid pace. The VIX is as stretched below its 10-day moving average as it has been in more than a month.
A number of retail stocks that had been selling off in recent days are again attracting buyers. Up for a second day in a row were ^M^ and ^SHLD^, both up more than 2%.
Here are 7 Stocks You Need to Know for Monday.
Buyers were back to work in ^NFLX^, which rallied more than 4% to reach a new high above a six-day trading range on Friday. Shares of Netflix were among the best performing in the Nasdaq 100 heading into the weekend.
Up more than 2% after a two-day pullback were shares of ^WFMI^.
Shares of ^ORCL^ (below) pulled back by more than 1% in trading on Friday.
Friday’s close marked the third consecutive lower close in ORCL. The stock, which has not been in oversold territory above the 200-day for months, remains in neutral territory despite Friday’s retreat.
Moving up from recent oversold lows are a number of retail stocks. Leading the sector higher were stocks like ^BIG^ which closed above its 200-day moving average for the first time since October 2010, and ^JWN^ (below) which gained nearly 4% on Friday.
Nordstrom has closed higher for two days in a row following the stock’s pullback into oversold territory above the 200-day last Wednesday.
Back in overbought territory above the 200-day moving average are shares of ^RIMM^ (below).
Research in Motion has closed higher for four consecutive trading days, adding more than 1% on Friday alone. The stock was last in overbought territory above the 200-day in mid-January, remaining in overbought territory for five days in a row before reversing to close lower for seven out of the next nine.
Shares of ^CLX^ rallied to close above their 200-day moving average for the first time since November 2010. Clorox reported quarterly earnings that beat analyst estimates Friday morning before the market opened.
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David Penn is Editor in Chief of TradingMarkets.com