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.
Carnival Corp.
Carnival Corp. (CCL) recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
Coronavirus is popping up everywhere and that has caused the travel industry to take it on the chin. Cruise operators in particular have been socked, with the public seeing images of passengers stranded on a ship when guests were diagnosed with the virus.
The damage is showing up in the charts, and Carnival is feeling the heat.
Moving average convergence divergence (MACD) is on a sell signal while the cloud is pointed lower. There is not much relief here as the stock is fully exposed. Money flow is bearish; this stock is headed to the $20s.
CCL is a good short here.
Walgreens
Walgreens Boots Alliance Inc. (WBA) recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
This drugstore chain has had its troubles since breaking lower in November and has lost 25% since then. That's extremely bearish, but it's even worse as the stock was the worst performer in the Dow Jones Industrials for weeks.
The recent selling has been unrelenting, with awful money flow and the relative strength with a steep downtrend. The cloud is also red and MACD just turned lower for a renewed sell signal.
