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6 Stocks to Sell in April

These stocks have failed to participate in the almost unprecedented broad-based rally of Q1

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Stock to Sell #2 – Research In Motion (NASDAQ:BBRY)

Canada-based smartphone maker, Research In Motion (NASDAQ:BBRY), is having difficulty competing in the wireless data services market. The company reported fiscal Q4 2013 earnings of $0.22 cents per share at the end of March, but it lost about 3 million subscribers during the period. And its newly introduced BB10 smartphone, which is aimed at the high end of the market, has had mixed reviews. Most analysts have expressed reservations concerning the sustainability of BBRY’s earnings and the success of its current business plan.

The stock is currently trading in a triangle with support at $13 and resistance at $16.50. Triple sell signals from our internal indicator, the Collins-Bollinger Reversal (CBR), mark the importance of the resistance line. Currently, the stock is hovering around its 50-day moving average where it has experienced resistance.

Sell BBRY short with a stop-loss order at $17.50. A breakdown of the support now at $13 should provide a target of $10.

BBRY Chart
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