If you like trading gaps, then the drop in shares of
(NASDAQ: DELL) may already have put the stock near the top of your
watch list. Trending lower over the last few weeks in the wake of
rallying to new, 52-week highs in February, DELL is back in
technically oversold territory for the third time since those
Down more than 3%, Dell is trading at its lowest level since
late January. The
has earned DELL a one-point ratings upgrade to 7 out of 10 (a
neutral rating), and a positive, short-term edge of more than one
and a quarter percent.
With a more modest edge of just over a third of a percent,
) may need to do more than close lower for five out of the past six
trading days in order to attract buyers to the stock. Additional
selling in the near-term that took MU into technically oversold
territory would be a good start on that score. The last time Micron
Tech traded oversold, during a three-day sell-off near the
beginnning of the month, MU climbed for six out of seven sessions,
gaining more than 10%.
neutral, 5 out of 10 ratings
, Friday morning, MU earned a one-point upgrade over the course of
the trading day.
Apple derivative play,
) pulled back by more than one and a half percent on Friday before
rallying to trim those losses in half. That said, the stock still
closed lower for a second day in a row, moving the lowermost
boundary of a trading range that extends back a month.
With a short-term,
of more than half of a percent, NUAN is trading just outside of
technically oversold territory, and could easily trade oversold on
any additonal selling on Monday. The stock was last oversold in
late February, during an extensive sell-off that took Nuance
Communications lower for five days in a row and to oversold levels
for the final two.
If you enjoy professional research and learning and applying
new quantified strategies, the new
Connors Research Strategy Series
is for you.