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6 Stocks to Sell in July

These high-yielding stocks should be liquidated

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Stock to Sell #3 – Corrections Corporation of America (CXW)

Corrections Corporation of America (CXW) is a REIT that owns and operates correctional and detention facilities and prisons in the U.S. It recently lost contracts for facilities in Texas and Mississippi, and that could have a negative impact on earnings and puts its $1.92 dividend (6% yield) at risk.

The stock fell from a high of $39.90 in May to just above its 200-day moving average at $30.95 in only seven weeks. It has closed below its bullish support line and threatens to break lower under the pressure of steady selling. Sell this high-yielder if it closes under the 200-day moving average since there is little support below that important line.

CXW Chart
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