Exreme: Oversold; RSI at 22.38
Nearest Resistance: $51.50Nearest Support: $35 Meanwhile, Sears Holdings (SHLD - Get Report) is selling off hard today, dropping to a new 52-week low as traders shove this stock into oversold mode. A new 52-week low is psychologically important for the same reasons that a new 52-week high is: With everyone who bought in the last year sitting on losses, their willingness to sell Sears is greatly increased. That could spur shares to fall into even more oversold mode before the year ends. >>7 Stocks Hitting New 52-Week Highs Last Thursday's breakdown below $51.50 was a strong sell signal. Now, with nearest support at $35, this stock has considerably further to fall before it hits any meaningful pockets of demand. While it's likely that selling will stall before we hit $35, this still looks like a good time to be short Sears.
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