18 Stocks That Are Breaking Down
Not a lot of movement by the markets today, but like I said in the morning trading plan, we usually never see an advancement in stocks right after it breaks out above the upper bollinger-band on the S&P. In fact, it usually leads to a fair amount of profit taking and downward selling pressures in the days that follow. I would not be at all surprised if Thursday and Friday ushered in another wave of selling. So be careful here at the current price levels.
The stocks below 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.
Here are 18 Stocks Breaking Down.