Constellation (STZ) – Vice Growth Slows – Nov 22nd, 2019
S&P 500 Market Outlook: Bullish
Bearish Trade: STZ $186.63 – Consumer Staples
The bearish DailyPlay we chose for Friday, Nov 22nd is Constellation Brands (STZ). STZ is part of the Consumer Staples Sector (XLP). XLP has declined 0.26% higher over the past month and its 1m and 6m trend turned bullish on Nov 13th but has failed to print new highs and bounced lower off its $61.80.
Constellation’s 1m and 6m trend turned bearish on Nov 7th and recently bounced lower off its $187.50 resistance level. With a technical score of 3 (out of 10), STZ is a weak stock that will likely continue lower.
As a stop loss, if STZ was to trade above $187.50 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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