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.
This watchmaker picked up some unwanted competition from Apple Inc. (AAPL) a few years back and it just hasn't been the same since. The longer-term chart is hideous, but even so the daily chart shows Fossil may soon become one!
There's a double moving average convergence divergence (MACD) sell signal here while the cloud points lower. Perhaps there's a sideways bounce here and then back to lower prices.
The stock is really extended here, but a move to $9 or so and short away.
Hologic is a repeat offender here among our Bearish Bets stocks as this maker of medical diagnostic products was massacred last week on whopping volume. A triple Moving Average Convergence Divergence (MACD) sell signal here has this stock pegged for a move to the June lows before too long.
The channel was broken last week and there has been a tepid response from the buyers. There is no interest in getting long here, with the Relative Strength Index (RSI) weak. Short for a move to the low $40s.
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.