Stock to Sell #3 – International Rectifier Corp. (IRF)
International Rectifier Corp. (NYSE:IRF) is a leading supplier of power semiconductors. Sales and earnings are expected to decline in 2013, and negative earnings are expected for the second consecutive year.
The stock is trading in a clear bear market channel with resistance within pennies of its close on Dec. 7. Insiders have been heavy sellers of the stock. Its MACD is overbought, and buying volume has been lower on the recent rally than selling volume in early November.
Sell IRF at the market since its next move will likely lead to a test of its support at under $14.50.