There are some bearish divergences out there indicating that this market could reverse course and allow for us to see a pullback of sorts in the very near future. While I don’t rule that out, I think the odds are we move higher, and I have positioned my portfolio accordingly. Below you will find a handful of stocks that 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.
One particular play that seemed to be of interest to me is Kimberly Clark Corp (KMB), which broke its upward trend line yesterday, and is seeing continued selling into today. Where I’d be interested in shorting this stock is if it can break through support at $63.75 and put in a lower-low as a result.
Here are 22 Stocks That Are Breaking Down.
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