The bearish DailyPlay we chose for Wednesday February 24th is Tesla Motors (TSLA). TSLA is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 0.59% move higher but it’s 6m trend remains bearish and recently has failed to break above its $74 minor resistance level.
Tesla Motors’s 1m and 6m trends turned bearish on 1/04 and recently bounced lower off its $180 resistance level on high volume. With a technical score of 2 (out of 10), TSLA looks positioned to continue this strong bearish trend lower.