With the Nasdaq putting on a strong performance to start the
quarter and the week (up nearly 1% to finish near year-to-date
highs), traders and active investor may not think to look to the
stocks of the Nasdaq for quality pullbacks above the 200-day moving
And while there are a number of Nasdaq stocks making new highs
on Monday - I'm talking to you,
) - there are more than a few Nasdaq stocks that have pulled back
to levels where traders, historically speaking and in the
short-term, have been more inclined to buy than sell.
) have now closed lower for five days in a row after edging lower
by more than three quarters of a percent on Monday. The pullback
has earned the stock 7 out of 10 ratings, one point away from our
"consider buying" category, and a modest
of just over a quarter of a percent. The stock managed to rally off
its lowest levels of the session midway through trading on Monday,
though EBAY will still open at new, two-week lows for the second
day in a row.
Ebay's last ratings upgrade to 7 or higher came at the beginning
of March as part of sell-off that took the stock lower for four out
of five trading days. Shares of EBAY traded oversold on the final
day of that
, and then rallied to gain more than 6% over the next five
The current pullback in shares of
Buffalo Wild Wing
) pretty much dashed the hopes of those momentum, "buy high, sell
higher" traders who jumped on the stock's big breakout last Monday.
A week later, shares of BWLD have closed lower for four out of the
past five trading days to finish in technically oversold
From here, however, the future could brighten for Buffalo Wild
Wings. Aggressive selling of the breakout has resulted in the stock
earning a positive edge of 1% ahead of trading on Tuesday, and a
from 6 out of 10 to 7 out of 10, one point below our "consider
With a positive edge of just over half a percent, shares of
) have closed lower for a third day in a row. But buyers may
already have revealed their strength in the inability of the stock
to close near session lows during its recent correction.
Finishing near its highest levels on Monday despite continuing
to close down on the day, STMP has earned a one-point ratings
upgrade to 7 out of 10, putting the stock at the upper boundary of
our "neutral" range.
Join Larry Connors for a free, all questions answered preview
and introduction to the all-new, Daily Battle Plan.
to learn more.
is Editor in Chief of TradingMarkets.com