SL Green (SLG)- Bearish DailyPlay for Friday Oct 26th, 2018

The bearish DailyPlay we chose for Friday, Oct 26th is SL Green (SLG). SLG is part of the Real Estate Sector (XLRE). Over the last month, XLRE has experienced a 0.65% move higher and its 1m and 6m trend has turned bullish and neutral yesterday but testing its $32.40 resistance level.

SL Green’s 1m and 6m trends turned bearish on 9/24 while breaking below its $99 support level which now becomes resistance. With a technical score of 6 (out of 10), SLG is a neutral stock that is starting to turn lower.

View this Trade Idea on SLG

As a stop loss, if SLG was to trade above $96 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

Upcoming Event: Leverage Technical Analysis w/ Nasdaq-100 Index Options – Thurs 11/1 @ 4:15 PM EST