The bearish DailyPlay we chose for Tuesday, March 6th is Coca-Cola (KO). KO is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 5.84% move lower and its 1m and 6m trend have turned bearish on 2/5 while breaking below its $56 support level.
Coca-Cola’s 1m and 6m trends turned bearish on 2/5 while breaking below its $44.50 support level which now becomes resistance. With a technical score of 3 (out of 10), KO is a strong bearish stock that is trending lower.
As a stop loss, if KO was to trade above $44.50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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