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.
Get 7 Stocks You Need to Know delivered to your inbox every
evening after the market closes. DataTrader, The Hot List and
Trading By the Numbers all in one place!
Click here
to start your free subscription today.
David Penn
is Editor in Chief of TradingMarkets.com