TradingMarkets 7 Stocks You Need to Know for Thursday: EAT, MSFT, FFIV, S, HD, BA, BBBY
Among Wednesday’s biggest gainers were ^BRCM^, which gained more than 11%, and a pair of stocks – ^LIFE^ and ^MCK^, both of which gapped up above their 200-day moving averages on Wednesday, closing higher by more than 5%.
Pulling back above the 200-day moving average ahead of trading on Thursday were shares of ^ANF^, which slid by 4%, and ^BMC^, down three days in a row after
Wednesday’s close.
With 16 backtested strategies for trading bull markets, bear markets and sideways markets, Short Term Trading Strategies That Work by Larry Connors and Cesar Alvarez may be the most important trading book you read this year. Click here to order your copy of Short Term Trading Strategies That Work today.
Here are 7 Stocks You Need to Know for Thursday.
^EAT^ pulled back by well over 8% in trading on Wednesday, creating near oversold conditions just days after reaching its highest closing level since April.
Among a slew of companies reporting quarterly earnings on Thursday – from CME Group to Eastman Kodak, none may be more watched than the scheduled announcement from ^MSFT^
(below).
Shares of Microsoft were up big on Tuesday and have closed higher for a second day in a row ahead of trading on Thursday. The stock has traded below its 200-day moving average since mid-May.
Buyers remain aggressive in ^FFIV^, sending the stock higher by more than 14%. Wednesday marked the stock’s sixth consecutive higher close above the 200-day.
Pulling back by more than 9% in trading on Wednesday were shares of ^S^ (below).
Late last week Sprint had rallied to its highest level since mid-summer. The current pullback has taken the stock to its lowest level in more than a month and its most oversold level in more than two months.
A fourth consecutive lower close in ^HD^ has taken the stock back below its 200-day moving average in trading on Wednesday.
Pulling back two out of the past three days on Wednesday were shares of ^BA^ (below).
The selling in BA has put the stock at oversold levels similar to those from a week ago, when a four-day retreat led to a gain of 3% over the following four days.
Also off for two days in a row above the 200-day moving average were shares of ^BBBY^. The stock pulled back by more than 2% intrday on Wednesday before rallying to close down just under 1%.
Click here to save your spot at the next free, online presentation on The Machine by Larry Connors, founder and CEO of TradingMarkets.
David Penn is Editor-in-Chief at TradingMarkets.com.