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6 Stocks to Sell in May

A rising tide floats most boats, but not all

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Stock to Sell #1 – Bio-Reference Laboratories (BRLI)

Bio-Reference Laboratories (NASDAQ:BRLI) provides clinical laboratory testing services for the detection and treatment of diseases, primarily in the greater New York metropolitan area.

In one year, the stock rose from $12 to above $30 as a result of improving revenues and earnings. But a recent “whistle blower” lawsuit, which alleges wrongful termination and billing practices, has cast a cloud over the company’s future.

Early in April, the stock broke down from a bearish triangle through support at $25. It recently rebounded to $25, but had a bearish reversal day on May 1. If BRLI fails to rise above its 50-day moving average soon, look for another leg down with a target of $20 or lower.

BRLI Chart
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Trade of the Day Chart Key 

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