The bearish DailyPlay we chose for Thursday Feb 2nd is Welltower Inc (HCN). HCN is part of the Real Estate Sector (XLRE). Over the last month, XLRE has experienced a 1.24% move lower and its 1m/6m trend has bearish today while breaking below its $30.50 support level.
Welltower Inc’s 1m and 6m trends turned bearish today while breaking below its 50D SMA and a 2 month bullish trendline. With a technical score of 2 (out of 10), HCN looks positioned to continue this strong bearish trend lower.
As a stop loss, if HCN was to trade above $66 for multiple days, this would invalidate our analysis and suggest getting out of the trade.