TradingMarkets 7 Stocks You Need to Know for Tuesday: WDC, FCX, MU, AMAT, SBUX, EXPE, WYNN
U.S. stocks remained under selling pressure as trading began on Monday. Down two days in a row and now oversold are the S&P 500 and Nasdaq 100. Technology was one source of weakness coming out of the first trading day of the week, with semiconductor stocks like ^KLAC^ and ^MXIM^ (and others below) down sharply on the day.
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Shares of ^SAM^ closed lower for a second day ahead of the company’s scheduled quarterly earnings report Tuesday after the close. Also reporting quarterly earnings on Tuesday is ^DKS^. DKS, which reports before the open Tuesday morning, pulled back by more than 1% in Monday’s trading.
Here are 7 Stocks You Need to Know for Tuesday.
Shares of Western Digital ^WDC^ soared by more than 15% in trading on Monday. The rally in WDC sent the stock back above its 200-day moving average.
Pulling back for a second day in a row on Monday were shares of ^FCX^ (below).
Shares of FCX dropped by more than 3% ahead of trading on Tuesday, closing in oversold territory above the 200-day moving average.
Profit-taking in semiconductor stocks was sharp on Monday with shares of ^MU^ down nearly 5% and ^AMAT^ retreating by more than 4%.
Up for a third day in a row and increasingly overbought above the 200-day moving average ahead of trading on Tuesday were shares of ^SBUX^ (below).
The rally of more than 1% puts the stock in overbought territory for the first time since mid-February.
Speaking of overbought stocks, although this time below the 200-day moving average, shares of ^EXPE^ have closed in overbought territory below the 200-day for the past two days in a row.
Three consecutive closes in overbought territory above the 200-day moving average were enough to bring out the sellers in shares of ^WYNN^ (below) going into trading on Tuesday.
WYNN pulled back by more than 3% in Monday’s trading. The stock remains technically out of oversold territory.
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David Penn is Editor in Chief of TradingMarkets.com