Urban Outfitters (URBN) – Bearish DailyPlay for Friday Oct 5th, 2018
The bearish DailyPlay we chose for Friday, Oct 5th is Urban Outfitters (URBN). URBN is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 2.43% move lower and its 1m and 6m trend has turned bearish yesterday and broke below its $114 support level.
Urban Outfitter’s 1m and 6m trends turned bearish on 9/14 while breaking below its $43 support level which now becomes resistance. With a technical score of 4 (out of 10), URBN is a weak stock that is likely to continue lower.
As a stop loss, if URBN was to trade above $43 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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