Oppenheimer's 10 "Worst Of The Worst" Stocks To Sell On Technical Weakness

Oppenheimer technical analyst Ari Wald’s new report out this week highlight’s the firm’s 10 “Worst of the Worst” stocks to sell on technical weakness. Here’s a breakdown of the 10 names included in the report.

1. ConocoPhillips COP

Support that had been holding for ConocoPhillips throughout 2015 recently broke down, leaving more room to the downside for the stock.

2. CONSOL Energy Inc CNX

After CONSOL recently broke below a support level dating back to early 2012, the bottom fell out of the stock. CONSOL is now trading at 10-year lows.

3. Nucor Corp NUE

Nucor is currently in danger of breaking below a support level that held for the stock earlier this year. A breakdown below that level would leave much more room for downside.

4. Owens-Illinois Inc OI

After forming a series of lower highs throughout 2015, Owens-Illinois is now in the process of establishing a new 2015 low.

5. Fluor Corp FLR

After a bounce earlier in the year, Fluor’s stock now finds itself trading at multi-year lows.

6. Emerson Electric Co EMR

Emerson is another stock that bounced earlier this year, but it’s now once again headed south.

7. EMC Corp EMC

EMC broke below its ascending support line early in 2015, and it appears that the line is now serving as resistance for the stock.

8. Teradata Corp TDC

When Teradata’s lateral support line and descending resistance line pinched the stock into a corner, the stock eventually broke out to the downside.

9. Coach Inc COH

Hopes that the double bottom established in 2014 would once again hold as support for Coach were recently dashed, and the stock is now trading at five-year lows.

10. NRG Energy Inc NRG

As was the case with Teradata, when NRG’s resistance line and support line converged, resistance won out, and the stock broke down to new multi-year lows.