Bearish DailyPlay for Wednesday August 2nd, 2017 – Campbell Soup (CPB)
DailyPlay for Wednesday August 2nd, 2017 – Campbell Soup (CPB)
The bearish DailyPlay we chose for Wednesday August 2nd is Campbell Soup (CPB). CPB is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 0.58% move higher and its 1m and 6m trend has turned neutral yesterday while recently bouncing lower off its $55.50 resistance level.
Campbell Soup’s 1m and 6m trends turned bearish on 6/8 and recently bounced lower off its $53 resistance level. With a technical score of 3 (out of 10), CPB is a strong bearish stock that is likely to continue lower.
As a stop loss, if CPB was to trade above $53 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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