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5 Toxic Stocks You Should Sell in April

Foot Locker

Up first is Foot Locker (FL - Get Report), the $5 billion shoe and apparel retailer that's behind more than 3,350 mall-based stores spread across a handful of countries. While Foot Locker's price performance over the last year has been alright, its more recent trading setups have been looking a lot uglier. Now a descending triangle pattern points to more downside ahead.

>>5 Huge Stocks Ready to Rocket Higher

The descending triangle is a bearish pattern that's formed by downtrending resistance above shares and horizontal support below them (in this case at $31.50). Essentially, as FL bounces between those two technically significant price levels, it's getting squeezed closer and closer to a breakdown below support. When that breakdown happens, traders have a sell signal for this stock.

The triangle in Foot Locker has been setting up since all the way back in the Summer, and that long-term setup means that this pattern has long-term trading implications once a breakdown below $31.50 happens. Until then, there isn't a high-probability trade to be made.
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FL $60.42 -2.31%
GE $29.89 -0.60%
LOW $75.14 -0.91%
PNRA $213.46 -0.31%
SVM $0.70 2.90%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

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