Each week we determine names that look bearish and will current attention-grabbing investing alternatives on the quick facet.
Using technical evaluation of the charts of these shares, and, when acceptable, latest actions and grades from TheRoad’s Quant Ratings, we zero in on bearish-looking names.
While we won’t be weighing in with basic evaluation, we hope this piece will give traders fascinated by shares on the way in which down a great place to begin to do additional homework on the names.
Apogee Enterprises
Apogee Enterprises (APOG) lately was downgraded to Hold with a C+ ranking by TheRoad’s Quant Ratings.
APOG’s chart reveals us a really vast buying and selling vary, with the inventory is on the decrease finish of that vary. Moving Average Convergence Divergence (MACD), although, has rolled over, and odds appear to favor this inventory rolling over, too.
Money circulate is destructive. The 200-day transferring common was lately examined and whereas Apogee bounced, it’s hardly spectacular. Notice the rise in quantity right here because the inventory travels south, an indication of institutional distribution (promoting). There’s extra stable help on the $41 space, so maybe a probably good 10% down leg.
Target the $41 space, and put in a cease at $50.
CBTX
CBTX, Inc. (CBTX) lately was downgraded to Hold with a C+ ranking by TheRoad’s Quant Ratings.
The CBTX inventory chart reveals a transparent bearish signal, an “M” sample. MACD is rolling over and cash circulate is poor. We see higher help down at $27 or so.
Since the top of March this inventory has simply been straight down on greater quantity. Big cash is promoting, so bulls get out of the way in which!
A transfer all the way down to $27 or a bit decrease seems to be within the playing cards, however let’s put in a cease at $31 simply to be protected.
Apple Hospitality REIT
Apple Hospitality REIT (APLE) lately was downgraded to Hold with a C ranking by TheRoad’s Quant Ratings.
This is a special apple, the hospitality REIT. This inventory has been torpedoed recently, with heavy turnover on the down days and the Relative Strength Index (RSI) reveals a steep slope downward. That tells us extra draw back is to come back and the trajectory is way sooner.
MACD has rolled over whereas cash circulate is weakening, too. The 200-day transferring common is in sight, and that will be a transfer to $15 or so, which might be a pleasant 15% transfer downward. But let’s put in a cease at $20 simply in case.
(Real Money contributor Bob Lang is co-portfolio supervisor of TheRoad’s Action Alerts PLUS. Want to be alerted earlier than AAP buys or sells shares? Learn extra now. )
Get an e mail alert every time I write an article for Real Money. Click the “+Follow” subsequent to my byline to this text.