Sell or Short This Stock Today

New breakdown from support occurred in CGNX last week

   
Sell or Short This Stock Today

Cognex Corp. (NASDAQ:CGNX) — This company provides machine vision products that capture and analyze visual information to automate tasks primarily in manufacturing processes.

It is estimating that its 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, the stock bounced from about $30 in July to over $36, where it turned back from its 50-day and 200-day moving averages. A new breakdown from support occurred last week.

Sell CGNX if you own it and sell it short if you are a trader. The downside target is $28. Short selling is a speculative, high-risk technique, so a stop-loss order should be entered to protect against unlimited losses. And check with your broker for any margin requirements.

11 12 12 cgnx 300x209 Sell or Short This Stock Today
Click to Enlarge

chart key 300x84 Sell or Short This Stock Today


Article printed from InvestorPlace Media, http://investorplace.com/2012/11/trade-of-the-day-cognex-corp-nasdaq-cgnx-3/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.