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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 #6 – Tech Data Corp. (TECD)

Tech Data Corp. (NASDAQ:TECD) is one of the world’s largest distributors of microcomputer hardware and software products to retailers. The company’s exit from Brazil and Columbia, a general global softness in demand, and overdependence on southern Europe, all put pressure on revenues and earnings.

Technically, the stock broke down from a support line at $46 in late September. This confirms a bear market is still in place with a downside target in the mid-$30s. MACD is oversold, and so there may be a bounce shortly but traders and current shareholders should sell into strength.

TECD Chart
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