Bearish DailyPlay for Thursday Feb 2nd, 2017 – Welltower Inc (HCN)
The bearish DailyPlay we chose for Thursday Feb 2nd is Welltower Inc (HCN). HCN is part of the Real Estate Sector (XLRE). Over the last month, XLRE has experienced a 1.24% move lower and its 1m/6m trend has bearish today while breaking below its $30.50 support level.
Welltower Inc’s 1m and 6m trends turned bearish today while breaking below its 50D SMA and a 2 month bullish trendline. With a technical score of 2 (out of 10), HCN looks positioned to continue this strong bearish trend lower.
As a stop loss, if HCN was to trade above $66 for multiple days, this would invalidate our analysis and suggest getting out of the trade.