My Power Stocks System tracks the most volatile, liquid candidates for option trading or short-term stock trading each week…but along with those strong names, I uncover the duds of the stock market too. The stocks I put on sell watch are in bearish trends that still have a great deal of downside left.
All of the following stocks meet those criteria. I would recommend selling these names on any further weakness. I also note how close the stock is to resistance levels, and what kind of volatility you can expect.
- Coventry Health (NYSE:CVH): CVH is trading just below its $46 resistance level and has low volatility.
- Immunomedics (NASDAQ:IMMU): IMMU is trading under its $3 resistance level and has volatility well above average.
- AstraZeneca (NYSE:AZN): AZN is trading $2 under its $48 resistance level and has volatility slightly below average.
- Novo Nordisc (NYSE:NVO): NVO is trading above previous $175 resistance and has volatility slightly above average.
If you’re unfortunate enough to own one of these names, take a loss now and save yourself the heartache later.
InvestorPlace advisor Ken Trester is editor of the popular Maximum Options program. Trester has been trading options since the first exchanges opened in 1973 with a winning streak that goes back to 1984 with money-doubling average annual profits since 1990. Try Maximum Options today for 2 months for only $99.