5 Stocks to Sell in February

Risk has re-entered the market, and that means it's time to lighten up on vulnerable stocks

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5 Stocks to Sell in February

Stocks to Sell #2: Symantec (SYMC)

symc 300x173 5 Stocks to Sell in February
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With the broader market appearing to be at an inflection point, this isn’t the time to take chances on stocks that are in potentially dangerous technical positions.

Exhibit A on this front is the security software provider Symantec (SYMC). There’s nothing wrong with the company fundamentally — earnings estimates are on track and it’s trading at a very reasonable 12.1 times forward earnings. However, the stock price — $23.30 at Tuesday’s close — is sitting near long-standing support at about $22.

This wouldn’t necessarily be cause for concern on its own, but also note that the 200-day moving average has begun to turn lower — a clear sign that momentum is heading in the wrong direction.

Symantec reports after the bell on Wednesday, Jan. 29.

Article printed from InvestorPlace Media, http://investorplace.com/2014/01/stocks-to-sell-ewj-t/.

©2015 InvestorPlace Media, LLC

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