Market Overview

Chevron, Pepsi, And 2 Other Stocks In Downtrends This Week

Share:

Below are five stocks to watch according to VantagePoint, a platform that uses artificial intelligence and intermarket analysis to predict price movement. 

What's On The Charts

  • Each candle on the following stock charts represents one day of trading action.
  • The black line on the chart is a simple 10-day moving average.
  • The blue line is generated via the AI in VantagePoint's intermarket analysis. It forecasts what the moving average will be 48 hours in advance. 
  • As you can probably tell, shaded areas of the candle chart represent whether the stock is in an uptrend or downtrend. 

A trend shift is represented by the two lines crossing. As long as the two lines don't cross, the current trend remains intact.

  • The red/green bar below the candle chart is a Neural Index. It determines whether a stock will move higher or lower in the coming two days. 

This Week's Hot Stocks

Wolverine World Wide

www.png

Wolverine World Wide, Inc. (NYSE: WWW) had a predictive moving average crossover to the downside in late-January, indicating a bearish trend. Now how the Neural Index also supported that move to the downside. Even though the two moving average lines have gotten closer together they still have not crossed. That tells us that the downtrend is still in tact.

PepsiCo

pep.png

PepsiCo, Inc. (NASDAQ: PEP) had a bearish crossover in late-January as well when the blue line crossed below the black line. Since then the stock is down about 10 percent, even though Wall Street liked the beverage giant's Q4 earnings report. While Pepsi has had a few days of positive price action, the intermarket analysis still indicates that the stock is in a downtrend.

Cooper Tire and Rubber

ctb_0.png

Cooper Tire & Rubber Co (NYSE: CTB) follows the same general principle. It had a bearish crossover in late-January, which was a clear indicator for traders to begin taking short positions. The stock is down over 17 percent since, in no small part due to its disastrous Q4 earnings report which saw them miss EPS estimates. 

Chevron

cvx_0.png

Chevron Corporation (NYSE: CVX) has really taken a big hit. The stock is down nearly 9 percent year-to-date. You can see in the chart above that Chevron has been in a negative trend since mid-January. Despite some recent positive price action, and some upgrades by analysts, look for the stock to have continued downside until those two moving average lines cross. 

Watch the full Hot Stocks Outlook below

About the Hot Stocks Outlook

The Hot Stocks Outlook is a weekly series. It’s designed to show traders how improving their timing is the key to maximizing gains and minimizing losses. VantagePoint Trading Software identifies trend reversals with up to 86 percent accuracy, helping traders get into the right side of trades at just the right time.

VantagePoint is an editorial partner of Benzinga. For a free demo click here.

Posted-In: vantagepointLong Ideas Short Ideas Technicals Markets Trading Ideas General

 

Related Articles (CTB + CVX)

View Comments and Join the Discussion!

Toyota, BMW Invest In Ann Arbor-Based Autonomous Startup May Mobility

Guess Provides 'Excellent Opportunity' To Try On A Turnaround Story, Says B Riley FBR