Expeditors International of Washington (NASDAQ:EXPD) — This company provides customers with an international network for the movement of goods. It includes the positioning and forwarding of air and ocean freight.
On Aug. 7, the company said that Q2 earnings had fallen by 12% as the global airfreight business struggled. On Aug. 8, Goldman Sachs lowered its price target to $34 and placed a “sell” recommendation on the stock. Other analysts have lowered their targets as well.
A short-term rally that sprang the stock from the bottom of its bear channel at $34 appears to have double-topped at under $40. There has been heavy selling recently, the MACD indicator went to a “sell” in late August, and the stochastic flashed a sell signal last week.
Sell EXPD short with a target of $30. Short-selling is a speculative, high-risk technique. A stop-loss order should be entered to protect against unlimited losses. And check with your broker for any margin requirements.