Before taking a look at the stocks with some of the biggest
edges heading into the second half of the trading week, a quick
recap of some of the stocks from our last
5 Stocks for the Next 5 Days
), for example, have been falling almost ever since we highlighted
the stock as short term overbought a week ago. It only took three
days after AKAM appeared in
5 Stocks for the Next 5 Days
before sellers had sent the stock down by more than 2%.
Three days was also all it took to turn the market for shares of
) from an overbought market to a nearly oversold one. NFLX fell by
more than 4% before closing below its 5-day moving average where
traders were able to cover their positions on weakness.
With regard to
), an additional day was required compared to AKAM and NFLX. But
overbought conditions in this stock also managed to attract
sellers, sending shares of AMZN lower by more than 5% on Wednesday
Here are 5 Stocks for the Next 5 Days
One stock from last week's list,
Green Mountain Coffee Roasters
) was headed toward oversold territory when we last highlighted the
stock. GMCR bounced to finish last week's trading, but began
selling off sharply when the new week began. This selling has put
GMCR deeply into oversold territory.
Down three in a row and finishing in oversold territory ahead of
trading on Thursday are shares of
). The growth stock was last at similar levels near the beginning
of the month, shortly before gaining for five out of the next seven
trading days to finish at a new short term high.
A single 3% sell-off was enough to send shares of
Chipotle Mexican Grill
(CMG) to levels at which the stock has historically found enough
buying interest to make significant short term gains. See similar
pullbacks above the 200-day in CMG in both early October and
mid-August. With traders taking profits from the stock's recent
short term rally, additional weakness over the next few days should
take no one by surprise.
Like Issac Newton's famous apple, shares of
(AAPL) plunged on Wednesday, falling from recent year-to-date highs
to finish lower by more than 5% heading into the second half of the
trading week. Wednesday's close marked the stock's second lower
close in the past three days, and any significant follow-through
selling likely will be enough to take the stock back to technically
Also down two out of the past three trading days are shares of
). The stock pulled back by 5% on Wednesday to finish near 7-day
closing lows, but is not yet technically oversold. The last time
shares of Amazon.com finished in oversold territory was on the
first trading day of October, shortly before embarking on a
seven-day win streak that took the stock to near its highest levels
of the year.
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is Editor in Chief of TradingMarkets.com