The bearish DailyPlay we chose for Friday June 30th is Disney (DIS). DIS is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 2.08% move lower and its 1m and 6m trend has turned bearish and neutral on 6/22 while breaking below its $90 support level.
Disney’s 1m and 6m trends turned bearish on 6/02 and recently bounced lower off its $107 resistance level. With a technical score of 4 (out of 10), DIS is a strong bearish stock that is likely to continue lower.
As a stop loss, if DIS was to trade above $107 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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