The stock market woodshed is getting crowded, as many stocks have gapped lower following earnings and offering weak forward guidance. Here are five just from the retail sector.
Chipotle Mexican Grill (CMG) has been behind the woodshed for quite a while, trying to recover from tainted food scandals. The daily chart shows the stock below a "death cross" since Nov. 27, when the 50-day simple moving average fell below its 200-day simple moving average, indicating that lower prices were ahead. This bearish pattern remains in play after the stock failed at its 200-day simple moving average of $440.85 on Oct. 10. The stock set a fresh 52-week low of $352.96 on Nov. 1.
Game software retailer GameStop (GME) has also been behind the woodshed for quite a while after a price gap lower on Nov. 13, 2015, when the stock closed at $37.18. After trying to stabilize in mid-August, the stock gapped lower once again. A "death cross" was confirmed on Oct. 7, when the stock closed at $26.68. The stock set it 2016 low of $23.32 on Nov. 1.
Nike (NKE) has been under a "death cross" since April 13. The last time the 200-day simple moving average was tested was on Aug. 25, when the average was $59.34. The stock has been kicked to a fresh 2016 low of $49.14 on Nov. 1.
Fast food restaurant Sonic (SONC) set its 2016 high of $36.34 on April 6 and has since been roller skating lower. The stock has been under a "death cross" since July 13, which remains on the playing field as the stock set its 2016 low of $21.12 on Oct. 25.
Under Armour (UA) has been below a "death cross" since Dec. 31. The 200-day simple moving average became a sell-strength opportunity on April 21 at $45.62, on July 21 at $42.43 and at $41.53 on Aug. 13. The stock traded as low as $30.06 on Nov. 1.
Here's the scorecard from the woodshed.