The bearish DailyPlay we chose for Friday July 27th is Kellogg (K). K is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 1.05% move lower and its 1m and 6m trend has turned bearish and neutral on 7/19 while recently bouncing lower off its $55.50 resistance level.
Kellogg’s 1m and 6m trends turned bearish on 6/19 and recently bounced lower off its $68 resistance level. With a technical score of 3 (out of 10), K is a strong bearish stock that is likely to continue lower.
As a stop loss, if K was to trade above $68 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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