TradingMarkets 7 Stocks You Need to Know for Wednesday: AAPL, C, GOOG, KFT, WFC, VZ, YHOO
^BA^ and ^LMT^ were among the best performers in the S&P 100, up more than 3% and 2% respectively, with LMT closing above its 200-day moving average for the first time since late June of 2010.
A number of financial companies are making quarterly earnings announcement before the bell Wednesday morning including ^GS^ and ^USB^. The stocks of both companies trade above the 200-day moving average and pulled back modestly (less than 1%) on Tuesday.
Here are 7 Stocks You Need to Know for Wednesday.
After gapping down at the open on Tuesday, shares of ^AAPL^ rallied over the course of the trading day to finish down just short of 2%, but well off session lows. The company beat earnings expectations after the bell on Tuesday.
Pulling back by more than 6% in trading on Tuesday were shares of ^C^ (below).
Citigroup had become increasingly overbought over the past few days. The pullback puts C at its most oversold levels of the new year.
Back in overbought territory for a second consecutive trading day on Tuesday were shares of ^GOOG^. GOOG has closed higher for four out of the past five trading days above the 200-day moving average.
Down three days in a row going into Wednesday’s trading were shares of ^KFT^ (below).
Last in oversold territory above the 200-day at the end of the first week of January, KFT pulled back by more than 1% on Tuesday, dropping the stock back into oversold territory again.
Among the financials reporting earnings Wendesday moring, the most oversold is ^WFC^, which still remains above its 5-day moving average despite a modest pullback on Tuesday.
Telecommunications companies pulled back for a second day ahead of trading on Wednesday. Down more than 3% were shares of ^VZ^ (below).
Verizon has closed lower for six out of the past eight trading days, with Tuesday’s pullback dropping the stock into oversold territory above the 200-day.
Down well over 1% in trading on Tuesday and increasingly oversold is ^YHOO^. Shares of YHOO have been rangebound since rallying above their 200-day moving average last October.
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David Penn is Editor in Chief of TradingMarkets.com