6 Stocks to Sell in October

These stocks have failed to participate in the market’s five-month rally

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Stock to Sell #3 – ITT Educational Services (ESI)

ITT Educational Services (NYSE:ESI) provides postsecondary degree programs in the United States. As of December 2011, it had 144 locations where it offers 73,000 students bachelor’s, master’s, associate and career-oriented education programs. Due to rising uncertainty about ITT’s existing and potential off-balance sheet, third-party student lending programs/liabilities, and relatively inferior free cash flow, the stock has been downgraded by analysts.

Technically, ESI has been in a bear market since February 2009, but a recent break of support at $30 implies that the stock is headed lower. MACD issued a sell signal and selling is picking up again. The near-term downside target is $22.

10 12 sell esi 300x212 6 Stocks to Sell in October
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chart key 300x84 6 Stocks to Sell in October

Article printed from InvestorPlace Media, http://investorplace.com/2012/10/stocks-to-sell-apc-cyh-esi-mos-qlgc-tecd/.

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