With the heavy selling in gold-related markets, gold stocks like ^ABX^ and ^AUY^ pulled back for a third day in a row on Wednesday.
The broader market for stocks was strong, however, leading to an increased likelihood of overbought conditions overall to start trading on Thursday. Note that ^DIS^ and ^AXP^, both noted in yesterday’s 7 Stocks You Need to Know, have closed higher for a fourth consecutive trading day.
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Here are 7 Stocks You Need to Know for Thursday.
Shares of ^NVDA^ helped lead the Nasdaq 100 higher ahead of Thursday’s open. The stock, , which climbed above its 200-day moving average in mid-November, gained more than 7% in trading on Wednesday.
After pulling back for four days in a row, shares of ^EXPE^ (below) bolted higher by more than 4% on Wednesday.
Shares of EXPE had closed in oversold territory above the 200-day moving average for three straight sessions before Wednesday’s sharp move higher.
Rallying back above its 200-day moving average after plunging below that level in mid-December were shares of ^MA^.
^LRCX^ (below) pulled back by more than 4% in trading on Wednesday.
Wednesday’s sell-off marked the stock’s four lower close in a row. LRCX has been trading above its 200-day moving average since mid-September.
^COF^ rallied from a one-day pullback to close higher by over 4% on Wednesday.
Shares of ^COST^ (below) have closed lower for two days in a row heading into Thursday.
Selling in COST took the stock down well over 1% and into oversold territory for the first time since late October.
Up four days in a row and increasingly overbought above the 200-day moving average ahead of trading on Thursday was Ford Motor Company ^F^.
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David Penn is Editor in Chief of TradingMarkets.com