3 New 2016 Death Cross Club Members

The historically weak start to 2016 has led to three more members being inducted in to the 2016 death cross club this week. The bearish technical cross occurs when a stock’s 50-day simple moving average (SMA) crosses below its 200-day SMA.
 

Not only was the nearly 6.0 percent decline in 2016’s first week the worst opening week of a year ever on record, it was the worst performance by the index during any week since 2011. Following the horrendous opening week of 2016, these three stocks kicked off the second weak with death crosses in their charts.
 

Cognizant Technology Solutions Corp CTSH

So far in 2016, Cognizant has managed to break below the $58 support level that held multiple times throughout 2015 to new 52-week lows and record a death cross to boot.

TD Ameritrade Holding Corp. AMTD

Unfortunately for TD Ameritrade shareholders, the golden cross the stock experienced in the last week of December was a false (and short-lived) signal. The stock has tanked since then, resulting in a death cross this week.
 

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Tractor Supply Company TSCO

Tractor Supply looks to be the most relatively healthy name of the three. The chart formed a death cross this week, but it still remains well above its 52-week low below $75.

Disclosure: the author holds no position in the stocks mentioned.