In a new report, Oppenheimer analyst Ari Wald discussed the firm’s top technical sell ideas in each of the nine market sectors. While Oppenheimer remains bullish on the market as a whole, the nine stocks mentioned in the report have shown technical indicators that suggest upside will be hard to come by.
Freeport-McMoran Inc FCX 3.04%
Oppenheimer sees technical breakdowns for Freeport-McMoran on both an absolute basis and a chart versus metals & mining peers. The stock has generally been trending downward dating back to 2011.
FirstEnergy Corp FE 0.3%
FirstEnergy has been unable to break above its downward-sloping resistance line since late-2011, and Oppenheimer sees little support for the stock until the $30 level.
Transocean Ltd RIG 4.3%
Transocean has been trending downward versus other drilling names going back to 2013, and the stock recently failed for the second time to break above a resistance level that has been in place throughout 2015.
Jacobs Engineering Group Inc JEC 1.24%
Oppenheimer believes…
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