6 Stocks to Sell in March

Investors should scale back positions in global securities, banks

    View All  
6 Stocks to Sell in March

Stock to Sell #6 – United States Steel Corp. (X)

United States Steel Corp. (NYSE:X) is a manufacturer of steel plate, tubular products, etc., and is dependent upon a strong world economy for success. It is one of the largest integrated steel flat roll producers in centralEurope. In addition to a weak European economy, recent increases in energy costs are a detriment to profitability. The company has had negative earnings for the past three years.

Technically a channel rally that began in October failed in February to penetrate its bearish resistance line. That failure drove the stock below its 50-day moving average and threatens to break it below the channel’s support line at $27. The MACD indicator is negative. Shareholders should either sell the stock or write calls or buy puts to protect against a possible new leg down.

03 12 x 300x190 6 Stocks to Sell in March
Click to Enlarge

Chart Key


Article printed from InvestorPlace Media, http://investorplace.com/2012/03/stocks-to-sell-anr-fslr-nok-tm-ubs-x/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.