TradingMarkets 7 Stocks You Need to Know for Wednesday: CSCO, YHOO, M, DLM, FOSL, CVH, AKS
Among the stocks making new short term highs ahead of trading on Wednesday are ^PCLN^ and ^SLE^. Pulling back to new short term lows were ^AKAM^ and ^MEE^, which closed lower for a second consecutive trading day.
Here are 7 Stocks You Need to Know for Wednesday.
Shares of ^CSCO^ were little changed ahead of the company’s scheduled quarterly earnings report on Wednesday. The stock is back above its 200-day moving average for the first time since briefly doing so in the first half of August.
Up more than 3% on Tuesday and ending the day in overbought territory were shares of ^YHOO^ (below).
After spending the summer and part of the fall below the 200-day moving average, YHOO has been trading above that level consistently since mid-October.
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Scheduled to report quarterly earnings on Wednesday, ^M^ pulled back by more than 1% in Tuesday’s trading. The stock had spent much of the past two weeks in overbought territory above the
200-day moving average.
Food stocks were among those pulling back above the 200-day ahead of trading on Wednesday. ^DLM^ (below) closed down more than 3%.
Shares of Del Monte had closed higher for three out of the past four trading days and was increasingly overbought before profit-taking set in on Tuesday.
Up more than 6% in Tuesday’s trading, ^FOSL^ has closed higher for fourteen out of the past fifteen trading days.
Pulling back after three consecutive higher closes – the last in overbought territory – were shares of ^CVH^ (below).
CVH has been trading consistently above its 200-day for the past month after spending the summer and the first half of fall below that level.
Increasingly overbought conditions below the 200-day in ^AKS^ led to a drop of more than 5% on Tuesday.
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David Penn is Editor-in-Chief at TradingMarkets.com.