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.
State Street has been a disaster since breaking down in September and October on higher turnover. Plain and simple, the institutions are selling banks hard.
Moving Average Convergence Divergence (MACD) is on a sell signal; the recent break of the range was on elevated volume. Even when there seems to be a bounce this one can't do it.
Short on any uptick.
CoreCivic has had a meltdown this month and this week alone the stock is down some 15%. The turnover has been enormous, the MACD on a sell signal while the RSI continues to roll downward.
Perhaps the stock will rally up to $20, but then it's a great short chance.
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.