Stocks Crossing 50-Day SMA 09/17: (RIMM) (WCN) (ITMN) Above; (NVDA) (BBY) (STLD) Below
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The following is a list of stocks crossing the 50-day simple moving average (SMA) and are either above or below the metric. The 50-day is considered an indicator of a potential near-term trend formation.
Crossing and above:
Crossing and above:
- Research In Motion (Nasdaq: RIMM) - down percent. Lower as Yahoo!'s (Nasdaq: YHOO) CEO Marissa Mayer offered to get smartphones for employees, so long as its not RIM, which Yahoo!'s IT team is discontinuing support for BlackBerry products. For more, click here.
Today's move highlights how RIM was starting to make a bit of a rise as the launch of BB10 nears and valuation is becoming flat. RIM dipped below the 50-day SMA, but is sticking above it after moving above the level in early September.
- Waste Connections, Inc. (NYSE: WCN) - up 10.2 percent. Investors cheering Waste Connections' acquisition of R360 Environmental. Click here for more color.
- InterMune, Inc. (Nasdaq: ITMN) - up 6.9 percent. On a four-session winning streak after Esbriet was approved for reimbursement in France last week.
Investors are now keeping an eye on the $10 level, which may cause a notable move higher when crossed.
- NVIDIA Corp. (Nasdaq: NVDA) - down 3.0 percent. Dipping on the session amid positive comments from Nomura earlier, saying the departure of Mike Rayfield isn't a great loss. Shares of NVIDIA also approaching the 100-day level, which is at $13.18.
- Best Buy Co. (NYSE: BBY) - down 3.9 percent. Lower as founder Richard Shulze is said to be having trouble securing financing for a potential takeover move. Click here for more color.
- Steel Dynamics (Nasdaq: STLD) - down 4.7 percent. Steel Dynamics lower as JPMorgan got bearish on a possible rally in the sector earlier. The 20-day SMA also crossed below the 50-day recently, possibly indicating a little more downside for the steeler.
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