The bearish DailyPlay we chose for Wednesday April 5th is Mylan (MYL). MYL is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 1.14% move lower and its 1m trend has turned bearish on 3/31 and bounced lower off its $75 resistance level.
Mylan’s 1m and 6m trends turned bearish on 3/29 and recently broke below its $40 support level on high volume. With a technical score of 3 (out of 10), MYL is a bearish stock that looks to continue lower.
As a stop loss, if MYL was to trade above $40 for multiple days, this would invalidate our analysis and suggest getting out of the trade.