The bullish DailyPlay we chose for Wednesday November 4th is Sinclair Broadcast Group (SBGI). SBGI is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 6.04% move higher and its 1m and 6m trend indicator both turned bullish on 10/5 and recently broke above its $77 resistance which now becomes support.
Sinclair Broadcast Group’s 1m and 6m trends have turned bullish on 10/7 and recently broke above its $31 resistance level on high volume which now become support. With a technical score of 7 (out of 10), SGBI looks positioned to continue this strong bullish trend higher.