16 Stocks That Are Breaking Down
There are some bearish divergences out there indicating that this market could reverse course and allow for us to see a pullback of sorts in the very near future. While I don't rule that out, I think the odds are we move higher, and I have positioned my portfolio accordingly. Below you will find a handful of stocks that are showing signs of, or already in the process of, breaking down as the smart money appears to be leaving them in a subtle manner. There are stocks trading at its peak and finally showing some vulnerability, while on the other extreme, there are stocks that have been in a channel near or at their lows, before finally breaking down below those lows.
I'd keep an eye on Ensco (ESV). It still has a solid upward trend, but it is testing support, and if it breaks, you would have on your hands a nice short setup with an appealing risk/reward setup.
Here are the 16 Stocks Breaking Down.