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.
Bed Bath & Beyond
This big retailer has been suffering for years, and if you see the weekly chart you'll know why. Even a pop in March on a potential buyout was snuffed out, and now the stock is in single digits.
The pain is felt by the bulls, but the chart has been consistently saying this all along, with lower highs, lower lows and poor relative strength plus high-volume selling.
This one could see even lower prices ahead; very bearish.
Pioneer Natural Resources
Energy names have been hit and miss lately as oil prices are erratic. The stock of this oil-and-gas exploration and production company is in a firm downtrend, with lower highs and lower lows.
The stock is on a moving average convergence divergence (MACD) sell signal, while the Relative Strength Index (RSI) has a steep slope downward.
The cloud is bearish, and this stock could see a move to the lower end of the cloud, the March low of $130 and eventually the December lows around $120.
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.
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-- Bob Lang and Chris Versace are co-portfolio managers of Trifecta Stocks.