Walgreens is the only Dow name that has fallen by double digits this year. One technician says this looks like a 'broken stock.'
div > div.group > p:first-child"> The drugstore chain has tanked 19 percent this year, a loss nearly 20 times steeper than the second-worst-performing Dow stock, UnitedHealth.
"It's just broken down too many support levels. The last couple of months it's seen a series of lower highs and lower lows. It's broken below its multiyear trendline going back to 2012, and it's also broken below its lows from both 2018 and 2014," he said. Erin Gibbs, portfolio manager at S&P Global, is more optimistic on the stock's outlook, though she concedes it does face its fair share of headwinds.
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