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The bearish DailyPlay we chose for Friday, Oct 26th is SL Green (SLG). SLG is part of the Real Estate Sector (XLRE). Over the last month, XLRE has experienced a 0.65% move higher and its 1m and 6m trend has turned bullish and neutral yesterday but testing its $32.40 resistance level.

SL Green’s 1m and 6m trends turned bearish on 9/24 while breaking below its $99 support level which now becomes resistance. With a technical score of 6 (out of 10), SLG is a neutral stock that is starting to turn lower.

View this Trade Idea on SLG

As a stop loss, if SLG was to trade above $96 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

Upcoming Event: Leverage Technical Analysis w/ Nasdaq-100 Index Options – Thurs 11/1 @ 4:15 PM EST