The bearish DailyPlay we chose for Thursday May 4th is Iron Mountain (IRM). IRM is part of the Real Estate Sector (XLRE). Over the last month, XLRE has experienced a 0.82% move lower and its 1m and 6m trend has turned bearish yesterday while breaking below its $31.50 support level.
Iron Mountain’s 1m and 6m trends turned bearish on 4/27 and recently bounced lower off its 200D SMA. With a technical score of 4 (out of 10), IRM is a weak stock that looks to continue its bearish trend lower.
As a stop loss, if IRM was to trade above $35.50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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