Burlington (BURL) – Short Opportunity on Rally – June 12th, 2019
Bearish – BURL $38.86 – Retail
The bearish DailyPlay we chose for Wednesday, June 12th is Burlington Stores (BURL). BURL is part of the Retail Sector (XRT). XRT has declined 5.30% lower over the past month and its 1m and 6m trend turned bearish and neutral on May 7th and just broke bounced lower off its $42 resistance level.
Burlington’s 1m and 6m trend turned bullish on June 7th but is approaching its $168 resistance level on very low volume and weakening money flow. With a technical score of 6 (out of 10), BURL is a neutral stock that will likely turn lower.
As a stop loss, if BURL was to trade above $168 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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