Bearish DailyPlay for Tuesday Dec 13th, 2016 – Allergan (AGN)
The bearish DailyPlay we chose for Tuesday Dec 13th is Allergan (AGN). AGN is part of the Heathcare Sector (XLV). Over the last month, XLV has experienced a 3.33% move lower and its 1m and 6m trends turned bearish on 11/30 while breaking below its $69 support level.
Allergan’s 1m and 6m trends turned bearish on 11/11 while breaking below its $204 support level on high volume. With a technical score of 1 (out of 10), AGN looks positioned to continue this strong bearish trend lower.
As a stop loss, if AGN was to trade above $200 for multiple days, this would invalidate our analysis and suggest getting out of the trade.