Bearish DailyPlay for Wednesday May 18th, 2016 – FLIR Systems (FLIR)

The bearish DailyPlay we chose for Wednesday May 18th is FLIR Systems (FLIR). FLIR is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 4.89% move lower and its 1m and 6m trend turned bearish on 5/3 while bouncing lower off its $43 resistance level.

FLIR System’s 1m and 6m trends turned bearish on 5/12 and recently broke below its $31 minor support level on high volume. With a technical score of 8 (out of 10), FLIR looks positioned to continue this bearish trend lower.