Stocks across the board have seen huge increases over the past month, and with the Fed announcement today, if the market reacts negatively to the statement, we could see a temporary pullback in the markets. So what I did, is run a scan of stocks starting to breakdown. The stocks below are showing signs of, or already in the process of, breaking down as the smart money appears to be leaving them in a subtle manner. There are stocks trading at its peak and finally showing some vulnerability, while on the other extreme, there are stocks that have been in a channel near or at their lows, before finally breaking down below those lows.
Last week Best Buy (BBY) was mentioned as the one to keep a close eye on, and today it is getting taken to the woodshed, to say the least. A couple of others to watch is DEER and CZZ for breaks below critical support levels and LSE after recently pulling back to resistance.
Here are 15 Stocks that are Breaking Down.
