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5 Stocks to Sell in December

Unlike most large-cap stocks, these names are not likely to rally into year-end

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Stock to Sell #5 – Ultratech (UTEK)

Ultratech (UTEK) develops and manufactures laser thermal processing and inspection equipment. On June 4, with the stock near $37, I noted that analysts projected UTEK would underperform the market over the next 6-12 months.

Since then, the stock executed a second death cross and turned down from its bearish resistance line in July and October. MACD is overbought and the stock is in a bear market, so the recent reaction rally appears doomed to fail at its 50-day moving average above $26.

Sell UTEK at the market. Short sellers should enter a stop-loss order at $28.50.

UTEK Chart
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