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  1. Home
  2. / Investing
  3. / Stocks

Bearish Bets: 2 High-Profile Stocks You Should Consider Shorting This Week

These names are at or near bearish territory based on technical patterns.
By BOB LANG
Jan 26, 2020 | 08:33 AM EST
Stocks quotes in this article: CVX, BA

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 week 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.

Chevron

Chevron Corp. (CVX)  is rated a Buy with a B rating by TheStreet's Quant Ratings.

Oil has been under pressure for more than a year and that's reflected in the big oil names. This one has an ominous "M" pattern that has yet to play out.

We see more downside coming here, at least a test of the October lows and perhaps a bit more, to the $105 area. The Relative Strength Index (RSI) is horrible and money flow is bearish.

Moving average convergence divergence (MACD) crossed over in early January and is on a sell signal. CVX is oversold but may stay that way a bit longer.

Boeing

Boeing Co.  (BA)  is rated a Hold with a C+ rating by TheStreet's Quant Ratings.

A miserable chart here as the aircraft maker continues to raise more red flags. Money flow is bearish, the cloud is red and expanding and MACD is again on a sell signal.

BA's Relative Strength Index (RSI) is poor but very oversold; we might see a rally back to $320 or so, but that would be a chance to short this stock again.

Even right now could yield some gains if the stock breaks $300.

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.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, Lang and Trifecta stocks had no positions in the securities mentioned.

TAGS: Short-selling | Investing | Markets | Stocks | Technical Analysis | Trading | Bearish Bet | Quant Ratings | Real Money | Trifecta Stocks

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