Energy shares led the markets higher on Monday following the big end of week sell-off last week. Gainers include ^BHI^, up more than 1% as well as ^HAL^ and ^OXY^, up more than 2% and 3%, respectively. Technology, see Intel and Microsoft below, continued to be a focus of sellers, sending a number of tech stocks lower for a second consecutive session.
Among companies reporting quarterly earnings before the bell on Tuesday are ^ADM^, ^PFE^ and ^UPS^. After the close, ^ERTS^ and ^BRCM^ are among the companies making their quarterly announcements.
Here are 7 Stocks You Need to Know for Tuesday.
Down two in a row on the first trading day of the week were both ^INTC^ and ^MSFT^ (below).
Monday’s pullback has put shares of MSFT in oversold territory for a second time since the stock rallied above its 200-day moving average in early December.
Shares of ^RIMM^ have closed lower for three days in a row and are back in oversold territory above the 200-day.
Pulling back for three out of the past four trading days and closing in oversold territory above the 200-day on Monday was ^PG^ (below).
Shares of Procter & Gamble pulled back by more than 1% and are again oversold. PG was last oversold during a five-day pullback in the first half of January.
Among the best performing energy companies on Monday was ^MEE^. Shares of MEE gapped up at the open and ended the day higher by well-over 9%. The one-day rally marks the stock’s return to overbought territory above the 200-day.
A one-day dip into oversold territory above the 200-day moving average was all it took to bring out buyers in shares of ^WFMI^ (below).
WFMI had been trending lower over the past several days after rallying to a new highs in the middle of January.
Is a pullback in high-flying ^NFLX^ at hand? A pullback of over 1% ahead of trading on Tuesday comes on the heels of the stock’s return to exceptionally overbought territory above the 200-day.
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.
David Penn is Editor in Chief of TradingMarkets.com