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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 #5 – Newfield Exploration (NFX)

Domestic oil and natural gas exploration and production company Newfield Exploration (NFX) has had its earnings estimates revised downward by several analysts following a disappointing Q4 report that missed estimates by a wide margin. High debt and falling production combine to limit future earnings, and insiders have been heavy sellers. Q1 2013 showed a slight improvement, but NFX still had a net loss of $0.06 per share.

In our Stocks to Sell in May, we recommended selling the stock if it advanced to $24. It rallied to $25.73 in mid-May, but broke down on May 31 on high volume after the CBR issued a sell signal followed by a sell signal from MACD. Sell NFX at the market or sell it short with a price objective of $18.

06 13 sell nfx 300x184 6 Stocks to Sell in June
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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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