Basic Materials Sector Taking a Hit

The Basic Materials Sector is one of the worst performing areas of the market today, currently down 1.9% on the session. The weakest stocks in the S&P Basic Materials Sector currently are: 1) CF Industries CF: Shares of CF Industries are currently trading down 4% from yesterday's close to $148.15. The stock recently hit a 52-week high of $158.42, which was set on May 31st. The year-to-date performance of CF has been a gain of 9.7%. 2) Eastman Chemical EMN: Shares of Eastman Chemical are currently trading down 3.6% from yesterday's close to $97.11. The stock broke below its 50-day simple moving average (one year daily chart) in today's session. The stock has lost 11.8% since hitting a 52-week high of $110.20 on April 29th. 3) CONSOL Energy CNX: Shares of CONSOL Energy are currently trading down 3.5% from yesterday's close to $46.62. A bearish head and shoulders pattern appears to be taking shape on a one year daily chart. The stock is looking to test its 200-day simple moving average (one year daily chart), which is currently at $45.81. 4) International Paper IP: Shares of International Paper are currently trading down 3.1% from yesterday's close to $27.01. The stock has key support at $26.95. After that, no support comes into play until $24.68. 5) Titanium Metals TIE: Shares of Titanium Metals are currently trading down 3.3% from yesterday's close to $16.44. The stock's 50-day simple moving average has crossed below its 200-day simple moving average (one year daily chart) in today's session – a technical bearish indicator known as a “Death Cross.” Shares hit a 52-week low of $16.28 in today's action.