The bearish DailyPlay we chose for Wednesday Mar 15th is United Parcel Service (UPS). UPS is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 0.7% move lower and its 1m trend has turned neutral on 3/9 while bouncing lower off its $66 resistance level.
United Parcel Service’s 1m and 6m trends turned bearish on 1/31 while breaking below its $112 support level on high volume. With a technical score of 4 (out of 10), UPS is a strong bearish stock that looks to continue lower.
As a stop loss, if UPS was to trade above $112 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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