Bargains in the stores after the major shopping holidays of the
year are almost as traditional a part of the year as the holiday's
themselves. Here are a trio of top Nasdaq stocks that have begun to
pull back after rallying to new short-term highs.
) have pulled back for three out of the past four trading days and
are increasingly oversold. The stock fell to extremely
levels in the first half of December, and is back trading at new,
5-day lows in bull market territory.
Pulling back by more than 2% on the final trading day of 2011,
) represent another instance where traders may be locking in gains
after an extended run of multiple, new highs and overbought
conditions. Still up more than 10% from its last
10-day closing low
six weeks ago, ROST could easily find itself oversold on any
significant follow-through selling when trading begins in 2012.
) has been trading in a very wide trading range since August, for
the most part trading in bull market territory. Ahead of trading on
Tuesday, the stock has finished lower for three days in a row. The
selling in the stock has put EXPE at its most oversold since its
to new, short-term lows, a pullback that anticipated a rally of
nearly 9% in eight trading days.
Traders looking for strength to fade below the 200-day moving
average want to consider the overbought conditions in manufacturers
and heavy industrials like
Avery Dennison Corp
). Both stocks began trading on Friday with "consider avoiding"
PowerRatings of 3 out of 10 or less, and remain vulnerable to a
short-term reversal to the downside as of Friday's finish.
All of the stocks in today's report were available from
research and data available through The Machine. To learn more,
is Editor in Chief of TradingMarkets.com