TradingMarkets 7 Stocks You Need to Know for Wednesday: S, AMT, WAG, NEM, HOT, VZ, CAT

Stocks were little changed on Tuesday, with traders and investors digesting gains from Monday’s strong move higher.

Among the stocks making big gains ahead of trading on Wednesday were telecommunications stocks such as Sprint and Verizon (more on both below), while ^HNR^ and ^RAME^ closed higher by more than 14% and 12%, respectively.

Here are 7 Stocks You Need to Know for Wednesday.

Shares of ^S^ rebounded strongly from a two-day pullback to close higher by more than 2% heading into trading on Wednesday.

S chart

Sprint had pulled back by more than 13% before Tuesday’s oversold bounce.

Also rallying from a sharp pullback in the wake of the news of AT&T’s acquisition of T-Mobile USA were shares of ^AMT^. Shares of AMT gained just over 4% in Tuesday’s trading.

Shares of ^WAG^ pulled back by more than 6% in trading on Tuesday after reporting quarterly earnings before the open.

Buying in gold stocks has shares of ^NEM^ closing higher by more than 2% and into overbought territory below the 200-day moving average.

^HOT^ pulled back by more than 3% going into trading on Wednesday.

HOT chart

The stock had closed higher for three days in a row prior to Tuesday’s pullback.

Closing higher for a fourth day in a row ahead of Wednesday’s open are shares of ^VZ^. Tuesday’s close marks the stock’s second in overbought territory above the 200-day.

Traders have begun to take profits in ^CAT^, which pulled back after closing higher for three days in a row.

CAT chart

CAT had closed in overbought territory above the 200-day moving average before Tuesday’s pullback.

With 16 backtested strategies for trading bull markets, bear markets and sideways markets, Short Term Trading Strategies That Work by Larry Connors and Cesar Alvarez may be the most important trading book you read this year. Click here to order your copy of Short Term Trading Strategies That Work today.

David Penn is Editor in Chief of TradingMarkets.com