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.