NEW YORK (TheStreet) -- As the broader market breaks down, here are four stocks that are likely to see further declines.

CalAmp (CAMP - Get Report) may have broken on Wednesday. It dropped $1.38, or 7.8%, to $16.24 on 1.7 million shares, and took out the key lateral support line from its low in July. The next test would be the May lows around $14.75. The stock is likely to approach those lows soon. Shares were trading up 20 cents at $16.44 Thursday morning.

Covance (CVD) has broken hard this week and is down five days in a row. The key is that the stock on Wednesday broke a major support zone from the early May low, as the stock fell $1.62 to $77.08 on 1.1 million shares. It could see $70 very soon. Shares were down 33 cents at $76.75 Thursday morning.

Nu Skin Enterprises (NUS - Get Report) continues to look bad. It has been in a down-channel since May, and is currently in a bear wedge, or coil. If the stock breaks that bear wedge, it could fall to the $34-$35 range. Shares were trading 76 cents lower at $43.00 on Thursday morning.

Waddell & Reed Financial (WDR - Get Report) recently broke down from a bear wedge, stair-stepping down the channel from its April high near $76. Wednesday's price action, in which the stock fell $1.38 to $50.31, pushed it below lateral support from the August low. The target is near the bottom of the down-channel, at $46.50-$47.00 in the short term. Shares were up 40 cents at $50.71 Thursday morning.

See video chart analysis on these stocks.

At the time of publication, the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.


TheStreet Ratings team rates CALAMP CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate CALAMP CORP (CAMP) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

You can view the full analysis from the report here: CAMP Ratings Report


TheStreet Ratings team rates COVANCE INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate COVANCE INC (CVD) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: CVD Ratings Report


TheStreet Ratings team rates NU SKIN ENTERPRISES as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NU SKIN ENTERPRISES (NUS) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: NUS Ratings Report


TheStreet Ratings team rates WADDELL&REED FINL INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate WADDELL&REED FINL INC (WDR) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and impressive record of earnings per share growth. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

You can view the full analysis from the report here: WDR Ratings Report