The bearish DailyPlay we chose for Thursday Sept 7th is W.W. Grainger (GWW). GWW is part of the Industrials Sector (XLI). Over the last month, XLI has experienced a 1.42% move lower and its 1m and 6m trend has turned bearish and neutral on 9/5 while bouncing lower off its $69 resistance level.
W.W. Grainger’s 1m and 6m trends turned bearish on 8/7 while breaking below its $168 support level which now becomes resistance. With a technical score of 1 (out of 10), GWW is a strong bearish stock that is likely to continue lower.
As a stop loss, if GWW was to trade above $168 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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