Salesforce (CRM) reports Street-beating Q2 >>> READ MORE

6 Stocks to Sell in March

      View All  

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.

NFX Chart
Click to Enlarge

Trade of the Day Chart Key 

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC