Bullish – NWL $15.63 – Consumer Discretionary
The bullish DailyPlay we chose for Thursday, May 16th is Newell Brands (NWL). NWL is part of the Consumer Discretionary Sector (XLY). XLY has declined 2.85% lower over the past month and its 1m and 6m trend turned neutral and bearish on May 13th but just bounced higher off its $114 support level.
Newell Brand’s 1m and 6m trends turned bullish and neutral on May 10th and recently bounced higher off its $15 major support level yesterday. With a technical score of 2 (out of 10), NWL is a weak stock that is starting to turn higher
As a stop loss, if NWL was to trade below $15 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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