6 Stocks to Sell in March

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Stock to Sell #4 – Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NYSE:NFX), a domestic oil and natural gas exploration and production company, has had its earnings estimates revised downward by several analysts following a disappointing Q4 report, which missed estimates by a wide margin. High debt and falling production combine to limit future earnings, and insiders have been heavy sellers.

In early February, the stock reversed down from its 200-day moving average at $29, confirming that a bear market was still in place. MACD has flashed a sell signal and it appears that the fragile support at $23 will break. Sell NFX if you own it or sell it short with a trading target of $16.

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chart key 300x84 6 Stocks to Sell in March 

Article printed from InvestorPlace Media, http://investorplace.com/2013/03/stocks-to-sell-bby-mhp-ovti-nfx-sfy-vrsn/.

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