5 Downtrending Dow Stocks—And 2 of Them May Surprise You
01/08/2016 7:00 am EST
Corey Rosenbloom, of AfraidToTrade.com, takes to the charts to analyze five leading stocks in the Dow currently at new 52-week lows in ongoing downtrends, including two of which that traders may find very surprising.
Are you ready to be surprised?
Five leading, well known stocks in the Dow Jones Industrial Average (30 stocks) are near or just broke to fresh new 52-week lows in ongoing downtrends.
Simply stated, these stocks should be avoided.
Let’s chart these names, two of which may be very surprising to you:
Collectively, these are the five weakest stocks in the Dow given their ongoing downtrends (lower lows and lower highs) along with the new 52-week lows achieved.
I’ve known Caterpillar (CAT), American Express (AXP), and IBM have all been weak through 2015 (they appeared repeatedly on stock scans I posted), but I was surprised that two leading companies topped the list. To read the entire article click here…
By Corey Rosenbloom, CMT, Trader and Blogger, AfraidToTrade.com