Sell or Short This Tech Stock Immediately

Popular Posts:

• 6 Stocks to Sell in June
• Chances Are High Stocks Will Rebound Today
• Top 6 Stocks to Buy for June

Recent Posts:

• The Bull is on the Move, Especially in Small Caps
• New Bullish Pattern Developing on This Semi Stock’s Chart
• Why You Shouldn’t Heed Calls of a Market Top
• View All Posts

Cognex Corp. (NASDAQ:CGNX) — This producer of machine vision products that capture and analyze visual information to automate tasks primarily in manufacturing processes is estimating that earnings for 2012 will fall to $1.55 from $1.63 last year. Analysts have recently reduced their targets and earnings estimates due to the continuing global economic slowdown and the company’s exposure to Europe.

Technically, CGNX bounced from about $30 in July to over $36 where it turned back from its 200-day moving average. Sell CGNX if you own it and short it if you are a trader with a downside target of $30.

Short-selling is a high-risk, speculative technique, so a stop-loss order should be entered to protect against unlimited losses. Check with your broker for any margin requirements.

Click to Enlarge