Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each Friday that look bearish.
While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
Nordstrom
Nordstrom (JWN) recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
Retail has been a struggle for a while, yet this department store name had a great fall, peaking in November. That was the end of it for Nordstrom, however, as the stock gapped lower and has not come close to recovering.
The death cross is imminent (circled), and while JWN may go sideways this pull up presents and excellent shorting chance. It should follow the purple lines.
U.S. Steel
United States Steel (X) recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
U.S. Steel has been roughed up of late. No doubt the tariffs and trade are having an impact. The recent rally to resistance also sets up a nice short opportunity, with lower highs on the chart.
The 50-day moving average around $23 might even be a good spot to add more short. Momentum indicators are weak.
This commentary is an excerpt from "5 Bearish Bets" a weekly feature sent to subscribers of Trifecta Stocks. Click here to learn more about this portfolio, trading ideas and market commentary product.
Want to find out the three other stocks we think look good short this week and how to play them? Click here for a trial subscription to Trifecta Stocks and get "Bearish Bets" each week!
-- Bob Lang and Chris Versace are co-portfolio managers of Trifecta Stocks.
