TradingMarkets 7 Stocks You Need to Know for Wednesday: HAL, S, T, VZ, BAC, UPS, INTC
Oversold conditions in the S&P 500 helped coax buyers into energy stocks in particular, with shares of companies like ^DVN^ and ^BHI^ up well over 3% and following-through to the upside after recent pullbacks.
As noted below, sellers were most aggressive in the “reach-out-and-touch-someone” sectors, with both telecommunications stocks like Verizon and transportation stocks like ^FDX^ beginning pullbacks above the 200-day.
Here are 7 Stocks You Need to Know for Wednesday.
Energy stocks continued to rally into strength, with ^HAL^ up over 2% to close above its 5-day moving average for the first time in more than a week. Halliburton was one of the many oversold stocks we noted two days ago in 7 Stocks You Need to Know.
Profit-taking in telecommunications stocks took both ^S^ and ^T^ (below) lower again on Tuesday.
Shares of AT&T closed lower for a fourth day in a row going into trading on Wednesday.
Also down four in a row above the 200-day moving average were shares of ^VZ^. VZ closed lower by more than 1% in trading on Tuesday.
Tuesday marked Verizon’s first close in oversold territory since late November.
Shares of ^BAC^ closed higher for a second day on Tuesday. The stock has been trading above its 200-day moving average for just under a week.
^UPS^ (below) closed down again on Tuesday.
Closing lower for the past four days in a row, UPS has closed in oversold territory above the 200-day moving average for three of those four trading days.
Shares of ^INTC^, which reports quarterly earnings on Thursday, rallied by well over 1% to close back above its 200-day moving average.
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David Penn is Editor in Chief of TradingMarkets.com