TradingMarkets 7 Stocks You Need to Know for Thursday: INTC, AMZN, NVDA, JPM, HAS, WYNN, MSFT
U.S. markets shot out of the gate at midweek, extending overbought conditions that developed soon after stocks recovered from the recent pullback. Technology shares continue to attract buying, with stocks like ^MU^ up more than 7% and NVIDIA Corporation (more on NVDA below) back in overbought territory after a one-day pullback.
Banks followed through to the upside after pulling back at the beginning of the week. This included financials like ^C^, which was noted in yesterday’s 7 Stocks You Need to Know, and ^BAC^.
Here are 7 Stocks You Need to Know for Thursday.
Shares of ^INTC^ closed higher for a third day in a row heading into the company’s scheduled quarterly earnings announcement on Thursday.
Five lower closes in row – although each modest declines in and of themselves – have still helped ^AMZN^ (below) pull back to just outside of oversold territory above the 200-day moving average.
Shares of AMZN have not closed in oversold territory since mid-November.
^NVDA^ soared by more than 14% on Wednesday. Back in overbought territory above the 200-day moving average, NVDA has closed higher for five out of the past six trading days.
Closing higher for a second day in a row on Wednesday were shares of ^JPM^ (below).
Shares of JPM had pulled back for three-day before the current oversold rally began. The company is scheduled to report earnings on Friday.
Toy stocks were among those stocks selling off on Wednesday. Down more than 2% were shares of ^HAS^.
Down three days in a row above the 200-day ahead of trading on Thursday were shares of ^WYNN^ (below).
WYNN last closed in oversold territory in late December. The current pullback comes in the wake of the stock recently besting its November 2010 highs.
Shares of ^MSFT^ bounced on Wednesday after a three-day pullback. MSFT has been trading above its 200-day moving average consistently since early December.
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David Penn is Editor in Chief of TradingMarkets.com