TradingMarkets 7 Stocks You Need to Know for Wednesday (KFT, AAPL, MCD, HPQ, SYMC, WAG, DRYS)

Stocks finished off their lows on Tuesday, with the S&P 500 moving back into overbought territory above the 200-day moving average along with the Russell 2000 Index (the SPDR S&P 500 ETF (SPY | PowerRating) and the iShares Russell 2000 Index Fund (IWM | PowerRating), respectively). The Nasdaq 100 – basis the PowerShares QQQ (QQQQ | PowerRating) – ended the day just outside of oversold territory, also above the 200-day.

Among the stocks reporting earnings on Wednesday are Family Dollar Stores Inc (FDO | PowerRating), Thor Industries Inc (THO | PowerRating), and Xinhua Finance Media Ads (XSEL | PowerRating).

Here are 7 Stocks You Need to Know for Wednesday.

A number of top stocks have closed lower for a second consecutive trading session on Tuesday and are one step closer to oversold territory above the 200-day moving average. These stocks include Kraft Foods Inc (KFT | PowerRating) and Apple Inc (AAPL | PowerRating) (below).

Shares of Apple rallied from significant intraday lows to close down approximately 1%.

Also pulling back for a second day above the 200-day moving average are shares of Mcdonalds Corp (MCD | PowerRating). MCD also rallied from intraday lows on Tuesday, closing near breakeven for the session.

Increasingly overbought below the 200-day are a pair of technology stocks in Hewlett-Packard Co (HPQ | PowerRating) and Symantec Corp (SYMC | PowerRating) (below).

Symantec has closed higher for four days in a row after a two-day pullback.

One of our 7 Stocks for Monday, Walgreen Co (WAG | PowerRating) soared on Tuesday, gaining more than 11% and rocketing above its 200-day moving average.

Climbing deeper into overbought territory below the 200-day are shares of Dryships (DRYS | PowerRating) (below). DRYS bounded higher by more than 8% on Tuesday, closing at its highest level since May.

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