5 Stocks to Sell in April

The technicals are flashing warning signs on these names for the current month and beyond

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5 Stocks to Sell in April

Barrick Gold (ABX)

abx stock chart 300x225 5 Stocks to Sell in April
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Gold prices are off 20% over the last year, and that looks like it will continue to hurt gold miners, especially Barrick Gold (ABX) in April.

Through good years and bad, ABX stock has lost an average of 6.4% in April over the last decade. It bounces back in May with a 4% gain, but then slides another 1.5% in June. ABX stock also lacks relative strength heading into the month, scoring a 40 out of 100 on Thomson Reuters’ Relative Strength Indicator.

ABX stock is up 2% for the year-to-date, but the technicals say that the immediate trend is down. ABX stock is 38% below its 52-week high and 9.2% below its 50-day moving average. It also trades 1.6% below its 200-day moving average. From a technical standpoint, there’s no reason to expect ABX stock to shine in April — or through the rest of the spring — and that lands it among the stocks to sell.

As of this writing, Dan Burrows did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, http://investorplace.com/2014/04/stocks-to-sell-in-april/.

©2014 InvestorPlace Media, LLC

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