Stock to Sell #5 – Panasonic Corp. (PC)
Global macroeconomic weakness and lower demand for flat-screen TVs are conspiring to limit the growth of Panasonic Corp. (NYSE:PC).
The stock is in a pronounced long-term bear channel, which turns aside rallies at its bearish resistance line (red dash line) and its 200-day moving average.
The recent rally, which penetrated its 50-day moving average (blue line), is an excellent price at which to sell. The next low for the stock could be south of $5.