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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Toxic Stocks That Are Poisoning Your Portfolio

Stocks in this article: GBL TCL BTI UNFI TRQ

Turquoise Hill Resources

Things are a little bit more definitive in shares of Turquoise Hill Resources (TRQ), a $7.7 billion mineral exploration firm. It doesn't take an expert technical analyst to see what's going on in this stock -- shares have been in a well-defined downtrend for the better part of the last year.

It's significant that TRQ's channel is well-defined; it means that we've got a high-probability range for shares to keep moving within. So now, with shares sitting smack dab in the middle of the channel, there's considerable room for TRQ to move lower before they can catch a bid again. Maybe worse, there's also a ton of room that this stock can move higher without actually breaking its downtrend. That fact could lure in more unsuspecting buyers only to have shares keep bouncing between trendline resistance and support.

The downtrend advises staying away from shares right now.

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