The major U.S. stock market indices are off to a great start in October. Just last week the S&P 500 rose 3.3%. It appears that the Federal Reserve’s decision to hold off on a rate hike has been one of the catalysts lifting equity prices over the near-term.
But at the same time the rise in stocks is also giving investors a chance to sell, short, or lighten up on underperforming stocks into that very same strength.
Although there are plenty of stocks that may fit the “sell into strength” category, I decided to highlight 4 of them that are on my radar.
These underperforming stocks include Caterpillar (CAT), CenturyLink (CTL), CF Industries (CF), and Beazer Homes (BZH).
Stock charts for each of these companies are located below.
Each chart shares my analysis, including key overhead resistance levels that I am watching.
1. Caterpillar (CAT) Chart
2. CenturyLink (CTL) Chart
3. CF Industries (CF) Chart
4. Beazer Homes (BZH) Chart
Thanks For reading and have a great week.
No position in any of the securities mentioned at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.