Market Overview

5 Stocks In Bearish Trends This Week

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The following four stocks are currently in the midst of uptrends according to VantagePoint, an AI charting platform that uses intermarket analysis and artificial intelligence to predict future price action 1-3 days in advance.

A couple of things to know in order to understand the charts below:

  • Each chart is a 3-month chart. Candles represent one day of trading
  • The blue line is a predicted moving average, and the black line is a simple 10-day moving average
  • When the blue line crosses above the black, that's a bullish signal. When the black crosses over the blue, that's bearish 

For a more detailed look at VantagePoint's charts, click here.

Dean Foods

Dean Foods Co (NYSE: DF) had a nice run in June, but has fallen 11 percent from its recent high on July 6. One week later, the stock had a bearish crossover, which you can see on the chart below. During this downtrend the predicted moving average has consistently stayed below the simple 10-day moving average, and the Neural Index has stayed in the red, indicating the trend is intact. Dean Foods reports Q2 earnings on August 7 before the bell. 

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Hornbeck Offshore Services

Hornbeck Offshore Services (NYSE: HOS) rose 67 percent in three weeks from June 21-July 11, at one point reaching a high of $5.35. But since making that high, shares of HOS are down 11 percent. VantagePoint signaled a medium-term downtrend on July 20, which you can see by the blue line crossing below the black. While the neural index has shown intermittent periods of green, the stock has had more red days than green and continued to leak. Until the two moving averages crossover again, this downtrend will continue. HOS reports Q2 earnings Wednesday after the close.

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BioScrip

BioScrip Inc (NASDAQ: BIOS) follows this same pattern. The stock rallied up 35 percent from June 7-July 11, but a big red candle on July 13 caused a bearish crossover, according to VantagePoint. The stock is down 10 percent since the start of this downtrend, and it has not signaled an end. Bioscrip reports Q2 earnings on August 7 before the open.

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Las Vegas Sands

Las Vegas Sands Corp. (NYSE: LVS) is down 12.5 percent since it had a bearish crossover on June 20. Though the stock has rebounded slightly in July, it's back in a downtrend thanks to a weak Q2 earnigns report in which the company missed Wall Street's EPS estimate. The gap down from that report on July 26 caused a bearish crossover of the blue line below the black, and the two lines have only diverged further since, indicating the trend has only gotten stronger. Shares of LVS were down 1.5 percent Monday as of this writing.

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Canadian Solar

Canadian Solar Inc. (NASDAQ: CSIQ) got hit hard from the trade tariff headlines in May, but came out of the downtrend in late-June and recovered slightly. The stock has slowly crept higher since making the low of the move on June 15, and VantagePoint has the stock in the slightest of uptrends. However the neural index for Monday was red, indicating near-term weakness, and with CSIQ down 1.2 percent in Monday's session, that looks to have been accurate. This will be one to watch over the coming days to see if the stock reverses into a downtrend. 

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VantagePoint is a content partner of Benzinga. For a free demo, click here. ` 

Posted-In: vantagepointShort Ideas Technicals Markets Trading Ideas General

 

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