Stocks continued to edge higher, climbing deeper into overbought territory above the 200-day moving average. Energy stocks in particular showed strength on Monday with stocks like ^TSO^ and ^MRO^ gaining more than 7% and more than 5% respectively.
Scheduled to report quarterly earnings before the market opens on Tuesday is ^Q^. The stock has closed in overbought territory above the 200-day moving average for the past two days in a row.
Here are 7 Stocks You Need to Know for Tuesday.
Up more than 7% ahead of trading on Tuesday are shares of ^NFLX^. NFLX has closed in overbought territory above the 200-day for three consecutive sessions.
Pulling back by more than 5%, shares of Motorola Mobility Holdings Inc. ^MMI^ (below) closed lower for a second straight trading day.
The pullback in MMI puts the stock at the lower end of a trading range that has persisted for more than a week.
Shares of ^CLX^ pulled back by more than 6% in trading on Monday following the stock’s rally to new highs on Friday.
^RIMM^ (below) pulled back for a second day in a row ahead of trading on Tuesday.
RIMM’s pullback comes in the wake of a rally to new highs last Thursday, a rally that took the stock into overbought territory above the 200-day.
^DBD^ may be the most overbought stock in the Russell 1000, having closed in overbought territory above the 200-day moving average for six consecutive trading days. Shares of Diebold were up more than 3% on Monday.
Up by more than 4% on Monday after closing lower for three days in a row were shares of ^FCX^ (below).
The three-day pullback in FCX was severe enough to create oversold conditions in the stock every day of the pullback leading into Monday’s big oversold bounce.
Shares of ^MGM^ pulled back by well over 3% in trading on Monday. Highlighted in our most recent 7 Stocks You Need to Know, MGM has closed lower for two days in a row and is back in oversold territory above the 200-day moving average.
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David Penn is Editor in Chief of TradingMarkets.com