The bearish DailyPlay we chose for Monday August 31th is The Walt Disney Company (DIS). DIS is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 4.2% move lower as both trends remain bearish.

The Walt Disney Company’s 1-month trend turned bearish from bullish on 8/9 as the 6-month trend turned bearish a few days later. DIS recently took a nice bounce off its $95.54 support level, however, it’s testing its resistance at $103.04 as of Friday’s close, with a technical score of 5 (out of 10) and looks positioned to possibly bounce lower.

View this trade idea on $DIS