TradingMarkets 7 Stocks You Need to Know for Thursday: SAM, BIDU, URBN, RIMM, KO, BBBY, SPLS
Selling continues to spread throughout the market, with profit-taking in financial shares and consumer discretionary stocks especially persistent.
Among the big gainers at midweek were ^JOYG^, up nearly 7% and ^R^, both increasingly overbought above the 200-day.
Here are 7 Stocks You Need to Know for Thursday.
^SAM^ soared by more than 12% ahead of trading on Thursday. The stock, which is now short term overbought, broke free from a trading range that extended back to the beginning of November.
Closing lower for a second day in a row were shares of ^BIDU^ (below).
Down more than 6%, the stock closed at its lowest level since late October.
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Shares of ^URBN^ climbed for a second consecutive trading day. The stock’s two-day rally comes on the heels of a three-day pullback in the stock.
Pulling back for a third day in a row on Wednesday were shares of ^RIMM^ (below).
Shares of RIMM are back at their 200-day moving average, having climbed above that level at the end of November.
^KO^ bounced back from Tuesday’s sharp, sell-off, gaining more than 1% and closing back above its short-term, 5-day moving average.
Down 2% after closing higher for six conseuctive trading days were shares of retailer ^BBBY^ (below).
Additional profit-taking in Bed Bath and Beyond could put the stock in oversold territory above the 200-day moving average by the end of the week.
^SPLS^ rallied by more than 2% on Wednesday after pulling back for four out of the previous five trading days.
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David Penn is Editor in Chief of TradingMarkets.com