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6 Stocks to Sell in November

We could be in for some serious profit-taking and perhaps even a correction

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Stock to Sell #1 – Dresser-Rand (DRC)

On Oct. 31, petrochemical equipment maker Dresser-Rand (DRC) reported Q3 revenues of $633.9 million, which were short of the $829.7 million consensus estimate. Earnings came in at $0.64 per share, up from $0.54 in the same quarter last year.

Following the news, DRC broke sharply to the downside, leaving a breakaway gap from $60.73 to $58.97 in its wake. And it was the highest volume day for the stock in over a year.

Even though there could be a reflex rally, it appears that the back of its bull trend has been broken, and so it should be sold. The next support is at the triple-bottoms of last year at about $50.

DRC Chart
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Chart Key 

Article printed from InvestorPlace Media,

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