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Trifecta Stocks

Bearish Bets: Commodities, Financials and Other Stocks That Look Good Short

By Chris Versace and Bob Lang | 07/29/16 - 10:29 AM EDT
Stocks in Focus: PSX, CMP, TROW, ATAI, ZIXI

Trifecta Stocks is a long-only model portfolio, but we are anxious to give our subscribers insight into stocks that may pose interesting investing opportunities on the short side.

Using recent actions and grades from Quant Ratings and layering on technical analysis of the charts of those stocks, we will identify up to five names each Friday that look bearish. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.

Phillips 66 (PSX:NYSE) was recently downgraded to Hold with a C rating by TheStreet's Quant Ratings.

Oil has been sliding of late, but refiners usually move with the "crack spread." However, that's been narrowing, too -- and so have profits. PSX reflects the bearish mood with a downtrend channel, as the chart above shows.

The stock will likely test the lower levels in the lower $70 region, while resistance is way up near the gap at $84.

Compass Minerals (CMP:NYSE) was recently downgraded to Hold with a C rating by TheStreet's Quant Ratings.

We've seen many commodity names rise sharply with a weaker dollar and some rising demand, but this mineral company has fallen on hard times. Since dropping right around the time of the Brexit vote, this stock has made lower highs, lower lows and is still flashing an MACD sell signal. Relative strength is clearly weak, as Compass looks to test the February lows one more time.

T. Rowe Price (TROW:Nasdaq) was recently downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.

This big bank shows a downward channel, and tested that on Wednesday on elevated volume, while the MACD has just rolled over to a sell signal. A low that the stock made in June was Brexit-related, but we did see volume expand at this level. So, we shouldn't be surprised to see TROW come back down. The stock is also currently below its 200-day moving average.

ATA Inc. (ATAI:Nasdaq) was recently downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.

This stock has been in freefall since breaking its 200-day moving average in June. With lower highs and lower lows, ATA seems headed lower. The MACD is on a renewed sell signal -- and as we can see from the RSI, above, there are lower highs (with the slope still trending downward).

Zix Corp. (ZIXI:Nasdaq) was recently downgraded to Hold with a C rating by TheStreet's Quant Ratings.

Zix Corp. has established a sideways range, but the stock is heading toward the lower end of that now. The MACD is about to roll over as well. As such, we should see another test of the lower range soon.

Regards,

Chris Versace & Bob Lang
Co-Portfolio Managers, Trifecta Stocks

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