TradingMarkets 7 Stocks You Need to Know for Tuesday (TGT, WMT, MA, HPQ, JBLU, LUV, S)
Stocks finished moderately lower following the oversold bounce on Friday. The pullback leaves the markets more or less in neutral condition, neither exceptionally oversold nor overbought, ahead of trading on Tuesday.
With growing bullishness during an abnormally strong September market, the VIX or CBOE Volatility Index has spent the month very much in-line with its 10-day moving average. The VIX itself continues to close near its lowest levels since May.
Here are 7 Stocks You Need to Know for Tuesday.
Telecommunications stocks were among the big gainers on Monday, with ^S^ continuing to follow-through to the upside after pulling back late last week.
Among blue chip stocks pulling back above the 200-day moving average on Monday were two top retailers, ^TGT^ and ^WMT^, both of which retreated by more than 1% on the day.
Climbing into overbought territory in Monday’s trading were shares of ^MA^. MA has closed higher for nine out of the past ten trading days, and continues to trade below its 200-day moving average.
Also rallying into overbought territory on Monday was ^HPQ^. Shares of HPQ are trading below the 200-day and have closed higher for three days in a row ahead of trading on Tuesday.
Airlines stocks soared on Monday, with the gain of more than 7% by ^JBLU^, typical of the aggressive buying in the sector. ^LUV^ was up 8% on news of its acquisition of AirTran.
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David Penn is Editor in Chief at TradingMarkets.com.