The bearish DailyPlay we chose for Thursday, Aug 23rd is S&P Global (SPGI). SPGI is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 0.89% move higher and its 1m and 6m trend turned bullish on 8/16 but recently bounced lower off its $28.5 major resistance level.
S&P Global’s 1m and 6m trends turned neutral on 8/20 and recently bounced lower off its $205 resistance level. With a technical score of 6 (out of 10), SPGI is a neutral stock that that is starting to trend lower.
As a stop loss, if SPGI was to trade above $205 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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