5 Stocks for the Next 5 Days: Garmin, Activision Start Week on Sale

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Heading into trading on Monday, traders have been on a two-day buying streak. Both the S&P 500 and the Nasdaq finished higher for a second day in a row on Friday and are increasingly overbought in the short term.

As such, the number of stocks pulling back in bull market territory are fewer than they will likely be a few days from now, as traders take profits from the recent strength.

Here are 5 Stocks for the Next 5 Days.

Shares of Activision Blizzard ( ATVI ) have closed lower for three days in a row as traders and investors sell in the wake of the stock's rally to 52-week highs at the beginning of last week. The sell-off has put ATVI in oversold territory heading into Monday's open. ATVI has a positive edge and will likely earn ratings upgrades on any additional weakness in the near term.

Also closing lower for three days in a row are shares of Garmin Ltd. ( GRMN ). The stock is not yet in technically oversold territory. But additional selling at the beginning of the week could easily take the stock to levels at which it has historically attracted buyers, at least in the short term.

Down more than 12% over the past three sessions as of Friday's close, Pricesmart ( PSMT ) has the largest positive edge of all the stocks in today's report. PSMT pulled back by more than 1% on Friday, marking the stock's second consecutive oversold finish.

Rhapsody Acquisition ( PRIM ), like GRMN, is not yet technically oversold. But after closing lower for three days in a row, the stock has moved closer to oversold territory than it has been since the beginning of the month. PRIM essentially was unchanged in Friday's trading.

Shares of The Anderson's Inc. ( ANDE ) are moving back toward bull market territory after spending the past three months at exceptionally low levels. The current run in the stock however, has created short-term overbought conditions and traders should be alert to the potential for underperformance or even strong selling in ANDE over the next few days.

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David Penn is Editor in Chief of TradingMarkets.com



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Stocks

Referenced Stocks: ANDE , ATVI , GRMN , PRIM , PSMT

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