The bearish DailyPlay we chose for Wednesday, Jan 31st is SL Green (SLG). SLG is part of the Real Estate Sector (XLRE). Over the last month, XLRE has experienced a 3.80% move lower and its 1m and 6m trend has turned bearish on 1/29 while breaking below its $32 support level.
SL Green’s 1m and 6m trends turned bearish and neutral on 1/4 and recently bounced lower off its $99 resistance level. With a technical score of 3 (out of 10), SLG is a weak stock that is trending lower.
As a stop loss, if SLG was to trade above $99 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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