As of midweek, the Nasdaq 100 featured some of the highest
in the stock market. With stocks like
(NASDAQ: HANS) down four out of five trading days and shares of
) slipping after a three-day bounce, traders and active investors
alike soon could see a number of opportunities to take advantage of
short-term weakness in the context of long-term - or at least,
intermediate-term - strength.
Pulling back into oversold territory in mid-December, shares of
HANS rallied by more than 5% over the next three trading days.
During the sell-off, Hansen Natural had finished lower for four
days in a row, with two finishes at levels where buyers
historically have been attracted to the stock. The current pullback
in HANS has put the stock at an even more oversold level than it
was during Hansen's mid-month
. Shares finished lower by more than 3% on Wednesday.
Also trading in oversold territory ahead of Thursday's open are
Randgold Resources Ltd
). GOLD now has closed lower for four out of the past five sessions
after dropping by well over 1% on Wednesday. And like Hansen
Natural, Randgold Resources was last trading these levels in the
middle of December, finishing oversold for two days in a row before
bounding higher by 7% over the next three sessions.
Other Nasdaq stocks for traders and active investors to keep
their eyes on include
), down three out of the past four and nearing oversold territory
200-day moving average
. The most recent pullback in PRGO was less than two weeks ago,
when a sell-off that took the stock lower for six out of seven
trading days was followed by a rally of nearly 7% over the
HANS has a short-term, positive edge of more than 1%, with both
GOLD and CSCO earning edges of well over half a percent. The Nasdaq
Composite is short-term oversold after selling off by more than 1%
on Wednesday. The selling in the Nasdaq comes after a three-day
rally took the index to the brink of overbought territory below the
200-day moving average. Basis the
PowerShares QQQ ETF
), the Nasdaq 100 was sent back into bear market territory after
rallying above its 200-day during its advance this week.
All of the stocks in today's report were available from
research and data available through
. To learn more, click here.
is Editor in Chief of TradingMarkets.com