Bearish DailyPlay for Thursday March 24th, 2016 – SolarCity (SCTY)

The bearish DailyPlay we chose for Thursday March 24th is SolarCity (SCTY). SCTY is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 10.15% move higher but its 6m trend just turned neutral today and recently failed to sustain its new high above $62.50.

SolarCity’s 1m and 6m trends turned bearish today while breaking below its $24 support level on high volume. With a technical score of 1 (out of 10), SCTY looks positioned to continue this strong bearish trend lower.

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