When The Holiday Spirit Fades These 3 Stocks Could Be In Trouble

By | November 22, 2017

These three stocks have not participated in the holiday inspired strength in the stock market this week. This lack of participation is highly suspicious and suggests that when the “spirit” fades they will be headed lower.

A large bearish engulfing candle formed on the General Cable (BGC) daily chart. The stock closed near its low and below the 50 day moving average. Watch the $19.75 three year high resistance-turned-support level.

Cognizant Technologies Solutions (CTSH) has had three down days in a row and now its below the 50 day moving average.

Intel (INTC) trying to hold $44.50; a break below that level could accelerate the stock price back into the vacuum of support left behind by the upside gap and take it down to the 50 day moving average.

Leave a Reply