Peter Lee, Chief Technical Strategist at UBS in New York, gives his technical outlook for 69 large cap stocks.
Since his last report of 17 November, five stocks have been downgraded from “Neutral” to “Bearish”. These are: Apache, BP, IBM, Occidental Petroleum, and Total, which together with GlaxoSmithKline make up the six stocks that are rated as “Bearish”.
Three stocks have been upgraded from “Bearish” to “Bullish”. These are: Kimberley-Clark, Target, and Wal-Mart, making 40 “Bullish” stocks in total. The remaining 23 stocks are rated “Neutral” in the medium to long-term. See table below for a summary by sector.