OptionsPlay DailyPlay

The bearish DailyPlay we chose for Wednesday May 18th is FLIR Systems (FLIR). FLIR is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 4.89% move lower and its 1m and 6m trend turned bearish on 5/3 while bouncing lower off its $43 resistance level.

FLIR System’s 1m and 6m trends turned bearish on 5/12 and recently broke below its $31 minor support level on high volume. With a technical score of 8 (out of 10), FLIR looks positioned to continue this bearish trend lower.