6 Stocks to Sell in August

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.

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