TradingMarkets 7 Stocks You Need to Know for Tuesday (UA, AVP, SPLS, GS, RIMM, RSH, KLAC)
Chemical companies were among the session’s biggest gainers, with ^EMN^ and ^DOW^ both up more than 4% intraday on Monday. Shares of Monsanto were also in-demand,
gaining well over 2% on the day.
Many financials continue to remain under pressure with regional banks like ^FITB^ off by well over 1%, and reversing back below its 200-day moving average.
Among the companies reporting quarterly earnings on Tuesday are ^X^ and ^AMTD^.
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 Tuesday.
Shares of ^UA^ closed higher for a third straight trading day ahead of their scheduled quarterly earnings announcement on Tuesday.
Pulling back by more than 4% on Monday were shares of ^AVP^ (below).
AVP was up for two days in a row coming into trading on Monday. Before that-two day bounce, the stock had closed lower above the 200-day moving average for five straight sessions.
Up nearly 2% on Monday, ^SPLS^ is increasingly overbought below its 200-day moving average.
Shares of ^GS^ (below) closed lower for a third straight trading day on Monday.
The three-day pullback in GS comes just days after the stock began trading above its 200-day moving average. Goldman Sachs had been trading below its 200-day since mid-April.
Climbing back into overbought territory below the 200-day moving average were shares of ^RIMM^, which gained more than 5% in trading on Monday.
Pulling back sharply by more than 9% on Monday were shares of ^RSH^ (below).
The pullback in RSH puts the stock at its most oversold levels since rallying back above its 200-day in mid-September.
Shares of ^KLAC^ gained closed higher on Monday by more than 2%. Monday marked the stock’s fourth consecutive higher close.
Have you seen The Machine? The Machine is the first financial software that lets traders and investors build quantified portfolios of backtested mean reversion and trend-following strategies. If you own an IRA or manage investments in excess of $100K, then you owe it to yourself to attend the next free, online presentation on The Machine by TradingMarkets founder and CEO, Larry Connors. To learn more and to save your spot, click here.
David Penn is Editor-in-Chief at TradingMarkets.com.