Financials were among the biggest winners as a group in Tuesday’s trading, with a number of stocks from ^BAC^ to ^RF^ up more than 2% on the day.
Other major gainers ahead of trading on Wednesday include ^JBL^, up more than 10%, and ^ADBE^. Shares of ADBE gained 6% on Tuesday, soaring to close above their 200-day moving average for the first time since mid-September.
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Up by more than 3% and continuing to trade around its 200-day moving average was ^DELL^ ahead of trading on Wednesday. The stock has been oscillating around its 200-day for more than a month.
Pulling back by more than 5% after a four-day rally were shares of ^DRI^ (below) on Tuesday.
Shares of DRI closed at their lowest level in more than a month. Any significant selling should be able to bring the stock down into oversold territory above the 200-day moving average.
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^RCL^ rallied nearly 8% to close higher for a fourth consecutive trading day. The bounce higher puts the stock in overbought territory above the 200-day moving average.
Down for a third day in a row and increasingly oversold above the 200-day moving average as of Tuesday’s close was ^EBAY^ (below).
The pullback in EBAY puts the stock at its most oversold since rallying above its 200-day back in late August.
^BBBY^ reports quarterly earnings Wednesday after the bell. The stock has been exceptionally rangebound over the past few days, becoming increasingly oversold above the 200-day in the process.
Closing lower for a third day above its 200-day moving average on Tuesday were shares of office supply retailer ^SPLS^ (below).
Trading below its 200-day moving average from May of this year until late November, the current pullback in SPLS represents the stock’s first strong profit-taking since climbing back above the 200-day.
Also closing down for a third consecutive trading day on Tuesday was ^WAG^. The stock is scheduled to announce quarterly earnings before the market opens on Wednesdasy morning.
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David Penn is Editor in Chief of TradingMarkets.com