Corey Rosenbloom: Are you ready to be surprised?
Five leading, well-known stocks in the Dow Jones Industrial Average (30 stocks) are near or just broke to fresh new 52-week lows in ongoing downtrends.
Simply stated, these stocks should be avoided.
Let’s chart these names, two of which may be very surprising to you:
Collectively, these are the five “weakest” stocks in the Dow given their ongoing downtrends (lower lows and lower highs) along with the new 52-week lows achieved.
I’ve known Caterpillar (NYSE:CAT), American Express (NYSE:AXP), and IBM have all been weak through 2015 (they appeared repeatedly on stock scans I posted), but I was surprised that two leading companies topped the list.
Goldman Sachs (NYSE:GS) can do no wrong in the investment world, yet their stock has fallen 25% since the early 2015 peak.
The stock is in a free-fall collapse currently, having achieved a new 52-week low this morning.
Apple Inc. (NASDAQ:AAPL) has struggled in 2015, creating a reversal or distribution pattern ahead of the August collapse.