Stock to Sell #5 – UBS AG (UBS)
Headquartered in Switzerland, UBS AG (NYSE:UBS) is a diversified financial services company that provides wealth management and investment banking services. Its global position has offered it some diversification, but it experienced losses in its investment banking division and saw major changes including the reduction of its balance sheet, risk-weighted assets, etc.
Technically its bearish resistance line at around $14 is intact, and the recent pattern of trading is called a “bearish rounding top,” suggesting that the fragile support line at around $13.80 may not hold. A break of that line would likely drop the price to its support at under $11.