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6 Stocks to Sell in June

Bearish technical characteristics make these stocks dangerous holdings in a volatile market

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Stock to Sell #2 – Autodesk (ADSK)

Autodesk (ADSK) is a leading provider of software for computer-aided design (CAD) that sells its products globally. It recently restructured its operation to support more cloud and mobile-based offerings. But weaker-than-expected global conditions, a significant loss of market share, and less-than-expected cost savings have had a negative impact on earnings.

The chart of ADSK appears to have an ominous head-and-shoulders forming. Further cause for concern occurred in late May when our proprietary internal indicator, the Collins-Bollinger Reversal (CBR), flashed a sell signal. Sell ADSK if it closes under the neckline of the head-and-shoulders at $36. The target for a decline is $31 or lower.

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chart key 300x84 6 Stocks to Sell in June 


Article printed from InvestorPlace Media, http://investorplace.com/2013/06/stocks-to-sell-ati-adsk-bg-nem-nfx-utek/.

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