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Please stand by? Four stocks with technical difficulties

Stocks kicked off the second quarter with a whimper this week as major averages sold off on the first day of the month before rebounding with modest gains on Thursday.

For some select companies, though, the charts are forecasting a troubling story for the second quarter and beyond.

On CNBC's "Fast Money" this week, four top technicians checked the charts and found four stocks that could be setting themselves up for technical difficulties in the months ahead.

Carter Worth of Cornerstone Macro looked to the beaten down energy sector to find a name with a distinct downward trend: Diamond Offshore. The oil and gas driller has already lost more than a quarter of its value this year and, according to Worth, "the downtrend is very much intact."

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"This looks like its heading back to the 2003 lows, down towards $20," he said. That would represent another 25 percent to the downside for a stock that's been hit hard by the plunge in oil prices.

Private Advisor Group's Guy Adami agreed with Worth, and noted the volatility in crude as a potential driver for more downside. "I don't think anything is going to change," he said. "I'm one of those people that think there's another leg down in crude oil."

Chris Verrone of Strategas Research Partners identified Tesla as another stock whose chart is setting up for a bumpy road. According to Verrone, Tesla has broken a key trend line dating back to 2012, and has followed a pattern of lower highs and lower lows.

"We always get nervous when a stock from what is a good group is not acting well, and autos in general have been a good group," he said.

Tesla finished the first quarter down by around 15 percent. General Motors and Ford each saw gains in the first quarter, outperforming the broader market.

As was the case with Diamond Offshore, Verrone said cheap oil could be one factor that's negatively impacting Tesla's stock. "With respect to lower oil, that probably doesn't help this chart either. The pure plays, such as GM and Ford, are likely better beneficiaries of an environment where energy and oil prices are lower."

"Fast Money" trader and Triogem Asset Management CIO Tim Seymour said that while he thinks Tesla is a "fantastic" company, it shouldn't be trading at current levels. "To me, this is a stock with a lot of disappointment ahead of it. It's a stock that do I think is going to push through $180," he said.

Louise Yamada of Louise Yamada Technical Research Advisors said American Express could see more downside in the months ahead. The charge card giant plummeted 15 percent in the first quarter, with losses accelerating after the company announced it had ended an exclusive co-brand card partnership with Costco.

Yamada said the stock has been in the process of making a top for the past year, and the most recent downturn has pushed it below a key trend line. "You're starting to see a break of this 2009 uptrend, which is a much more structural profile of deterioration," she said.

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Brian Kelly of Brian Kelly Capital said he'd be a seller if the stock were to rally. "I'd wait for a rally into one of those downtrend lines before I'd try to short it or sell it," he said. "It does not look like a great long-term play here."

The final pick came from the broadcasting space, where Oppenheimer's Ari Wald said that Scripps Networks, which owns the Food Network and the Travel Channel, is setting up technically for a drop.

"It's really a textbook topping pattern over the past 2 years," he said. "Sellers are in charge now."

Cowen and Company head of sales and trading David Seaburg said he'd be a seller of the stock based on fundamental reasons. "They're tied to the TV ad market," he said. "It's going lower."