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Of the biggest movers off three-year lows, a few stocks still showed potential, according to a leading technical analyst.
Oppenheimer’s Carter Worth on Thursday called out Wyndham Resorts.
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“This is literally the No. 1 performing stock off the low three years out in the entire S&P,” he said on “ Fast Money .”
But the stock chart appears to have run out of steam, closing at $43.75.
“We would fade it. Overdone. Take profits. Write calls against it. Do something,” he said.
The second biggest winner, Genworth Financial, saw a stock price up tenfold over the past three years.
“By all accounts this is a bearish-to-bullish reversal – a sick, laggard-type stock that is in the throes of bottoming out,” Worth said. “In this case we would stay long or get long.”
A more defensive stock, CBS, has returned to its May 2011 highs.
“We would play for $34, $35,” he said.
Worth also looked at the biggest loser, Dean Foods.
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