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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 #5 – QLogic Corp. (QLGC)

QLogic Corp. (NASDAQ:QLGC) designs and supplies network infrastructure products that provide and manage computer data communication. Earnings fell in three of the past four quarters from comparable year-ago periods, and analysts’ estimates for next year are mixed.

Technically, the stock is in a bear market with resistance at just over its bearish resistance line at $12. In early October, it broke a temporary support line at $11 as distribution increased. MACD flashed a sell signal in mid-September. Sell QLGC with a downside target of $8.50.

QLGC Chart
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Trade of the Day Chart Key 

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