A sale on financial stocks characterized much of the selling on the first day of trading this week, with shares of ^WFC^ and ^BAC^ helping lead the stock market lower early in the session.
The buyers’ offensive in retail pushed more stocks from this sector into overbought territory. Up for a fourth day in a row above the 200-day moving average were stocks such as ^TIF^, ^JWN^ and ^M^.
Here are 7 Stocks You Need to Know for Tuesday.
Also up for a fourth day in a row were shares of ^AMZN^. The best performing stock in the S&P 100 on Monday was up more than 3% on Monday.
Down more than 3% ahead of Tuesday’s open were shares of ^GS^ (below).
Goldman Sachs closed lower for a second day in a row in trading on Monday. The stock is at its most oversold since rallying above its 200-day moving average early in the second half of October.
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Pulling back by more than 2% and down four out of the past five trading days was ^C^.
Shares of ^GMCR^ (below) soared by more than 18% after a two-day pullback.
GMCR had closed lower for nine out of the past ten trading days before of Monday’s oversold bounce.
Up six days in a row and increasingly overbought below the 200-day moving average were shares of ^TSN^ (below).
Tyson Foods closed at its highest level since plunging back below its 200-day moving average early in the first half of September.
Shares of ^NFLX^ continued to follow through to the upside on Monday. Up nearly 9%, the stock’s three-day, oversold rally comes on the heels of a four-day pullback.
Up five out of the past six trading days, ^JCG^ gained more than 3% in another show of strength for the increasingly overbought retail sector.
Please note: An $8 per share ex-dividend was the cause of Wynn Resorts recent price drop noted in yesterday’s 7 Stocks You Need to Know, not selling in the stock. Shares of WYNN continued to advanced on Monday, gaining more than 2%.
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David Penn is Editor in Chief of TradingMarkets.com
TradingMarkets.com supplies active traders with the education and tools they need to make trades based on data - not emotion and delivers content, tools, data, and trading systems aligned with the proprietary trading methodologies developed by Connors Research.
