OptionsPlay DailyPlay

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.

View this Trade Idea on IRM

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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