The bearish DailyPlay we chose for Friday Oct 14th is Sysco Corp (SYY). SYY is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 0.33% move lower and it’s 1m and 6m trend turned bearish on 9/23 and recently broke below its $52.50 support level.
Sysco Corp’s 1m and 6m trends turned bearish on 9/29 and recently broke below its $49.50 support level on high volume. With a technical score of 5 (out of 10), SYY looks positioned to continue this strong bearish trend lower.
As a stop loss, if SYY was to trade above $49.50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.