What's down on an up day? Heading into the final trading day of
the week after a +300 point rally in the Dow, here are a few Nasdaq
markets where the sellers have not yet thrown in the towel.
Heading for its third lower in a row on Thursday were shares of
). The stock slipped into oversold territory on an intraday basis
and will likely trade at oversold levels on Friday on any
significant follow-through selling. Shares of CERN were down more
than 2% late in trading on Thursday before rallying to finish off
by less than 1%.
) have finished lower for two out of the past three sessions,
dropping by more than 1% on Thursday. CELG has responded strongly
to deep pullbacks in recent weeks, gaining more than 6% in two days
following a pullback that took the stock lower for three out of
four days in early October.
A trading range has characterized price action in the market for
). The stock, which has traded sideways for the past five sessions,
has finished lower for three days in a row. The sideways trading
comes as ATVI has rallied to its highest levels of the year.
Among some of the smaller stocks of the Nasdaq, shares of
) sold off aggressively on Thursday, closing lower for a third day
in a row and pulling back by more than 5%. HOTT's sell-off puts the
stock at its lowest closing level since the beginning of October,
its first oversold close since that time.
Down more than 8% ahead of trading on Friday, shares of
) have finished lower for the second day out of the past three.
Like the pullback in Hot Topic, Perrigo's retreat has sent the
stock to its lowest close in a month and into technically oversold
territory above the 200-day.
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is Editor in Chief of TradingMarkets.com