TradingMarkets 7 Stocks You Need to Know for Wednesday (KFT, AAPL, MCD, HPQ, SYMC, WAG, DRYS)
Stocks finished off their lows on Tuesday, with the S&P 500 moving back into overbought territory above the 200-day moving average along with the Russell 2000 Index (the ^SPY^ and the ^IWM^, respectively). The Nasdaq 100 – basis the ^QQQQ^ – ended the day just outside of oversold territory, also above the 200-day.
Among the stocks reporting earnings on Wednesday are ^FDO^, ^THO^, and ^XSEL^.
Here are 7 Stocks You Need to Know for Wednesday.
A number of top stocks have closed lower for a second consecutive trading session on Tuesday and are one step closer to oversold territory above the 200-day moving average. These stocks include ^KFT^ and ^AAPL^ (below).
Shares of Apple rallied from significant intraday lows to close down approximately 1%.
Also pulling back for a second day above the 200-day moving average are shares of ^MCD^. MCD also rallied from intraday lows on Tuesday, closing near breakeven for the session.
Increasingly overbought below the 200-day are a pair of technology stocks in ^HPQ^ and ^SYMC^ (below).
Symantec has closed higher for four days in a row after a two-day pullback.
One of our 7 Stocks for Monday, ^WAG^ soared on Tuesday, gaining more than 11% and rocketing above its 200-day moving average.
Climbing deeper into overbought territory below the 200-day are shares of ^DRYS^ (below). DRYS bounded higher by more than 8% on Tuesday, closing at its highest level since May.
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 $250K, 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.