The bearish DailyPlay we chose for Tuesday August 23rd is Coca-Cola (KO). KO is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 0.9% move lower and it’s 1m and 6m trend turned bullish on 8/18 but has recently failed to break higher above its $55 resistance level.
Coca-Cola’s 1m and 6m trends turned bearish today and recently bounced lower off its $44 resistance level. With a technical score of 2 (out of 10), KO looks positioned to continue this strong bearish trend lower.