TradingMarkets 7 Stocks You Need to Know for Tuesday: WFC, NVDA, KO, CCE, SYMC, EDMC, LEN
Stocks remained mixed on the first trading day of the week, with the Nasdaq 100 remaining in overbought territory above the 200-day moving average and the S&P 500 pulling back into oversold territory above the 200-day.
Among the better performing stocks on Monday were ^NFLX^, gaining more than 4% and closing higher for a second day in a row following a two-day pullback, and ^SLE^, also up more than 4% and breaking out to a new short-term high.
Here are 7 Stocks You Need to Know for Tuesday.
Drifting closer to oversold territory above the 200-day moving average ahead of Tuesday’s open were shares of ^WFC^. WFC has not closed in oversold territory since climbing above its 200-day moving average in early December.
Increasingly overbought above the 200-day moving average and potentially overdue for a pullback are shares of ^NVDA^ (below).
NVDA last closed in oversold territory above the 200-day moving average in mid-December.
While shares of ^KO^ remain under selling pressure, having closed in oversold territory above the 200-day moving average for five days in a row, ^CCE^ (below) was up more than 3%, rallying from its own two-day pullback into oversold territory.
CCE had closed lower for four trading days in a row before Monday’s oversold bounce.
Closing lower for a second day in a row above the 200-day moving average on Monday was ^SYMC^ (below).
Shares of SYMC last closed in oversold territory above the 200-day just before the Christmas holiday. Stock went on to close higher for seven out of the next nine trading days, rallying to its highest level since early November.
Heavy selling in the education and training services sector has a number of stocks that have been trading below their 200-day moving averages sharply lower on the day. Typical of the plunges in these stocks was the drop of more than 17% in ^EDMC^.
Pulling back ahead of its scheduled quarterly earnings report on Tuesday were shares of ^LEN^. LEN closed lower by more than 2%.
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David Penn is Editor in Chief of TradingMarkets.com