TradingMarkets 7 Stocks You Need to Know for Wednesday: OXY, AZO, DIS, AXP, SHLD, MSI, MMI
Profit-taking picked up in commodity and energy-related stocks on the second day of the trading week. Down nearly 3% were shares of ^HAL^. ^SLB^ pulled back by more than 2%.
Among the bigger gainers heading into trading on Wednesday were ^PCS^, up well over 6%, and ^AA^, which bucked the trend toward selling in materials stocks by rallying more than 4%. With the S&P 500 and Nasdaq moving sideways, stocks overall are set to open moderately overbought Wednesday morning.
Here are 7 Stocks You Need to Know for Wednesday.
Profit-taking picked up among energy stocks like ^OXY^ (below), which pulled back for a second day on Tuesday.
Shares of OXY closed at their most oversold since rallying back above the 200-day moving average in early November.
A pullback of more than 4% on Tuesday provided a third consecutive lower close in ^AZO^ (below).
The sell-off in Autozone, which reached new highs at the end of 2010, takes the stock to its lowest level in a month.
Up for a third day in a row and overbought above the 200-day moving average heading into Wednesday’s trading were shares of both ^DIS^ and ^AXP^.
A one-day dart back toward overbought territory below the 200-day moving average was all the inspiration sellers needed to send shares of ^SHLD^ (below) lower by more than 4%.
Sears Holding Corp. has been trading below its 200-day since late May.
Motorola is now Motorola Solutions ^MSI^ and Motorola Mobility Holdings ^MMI^.
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David Penn is Editor in Chief of TradingMarkets.com