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Two Technical Reasons To Short Pitney Bowes

|Includes:Pitney Bowes Inc. (PBI)

Technical outlook now confirms weak fundamentals.

PBI has formed two distinct patterns.
On the daily chart PBI has broken support @ 18.00 on the rectangle. Min.downside target = 16.00

Click to enlarge

On the weekly chart a large confirming rectangle pattern. Support has been convincingly broken @ 20.00 Min.downside target = 15.00Click to enlarge

Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in PBI over the next 72 hours.

Stocks: PBI