The bearish DailyPlay we chose for Friday, Oct 5th is Urban Outfitters (URBN). URBN is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 2.43% move lower and its 1m and 6m trend has turned bearish yesterday and broke below its $114 support level.
Urban Outfitter’s 1m and 6m trends turned bearish on 9/14 while breaking below its $43 support level which now becomes resistance. With a technical score of 4 (out of 10), URBN is a weak stock that is likely to continue lower.
As a stop loss, if URBN was to trade above $43 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Upcoming Event: Leveraging Options Trading w/ Technical Analysis – Friday 10/12 @ 9:00AM EST
- DailyPlay Performance: 67% Winners & 82.32% Average Winning Trade!
- Historical DailyPlay Trades: All open and closed trades
Share this on