The bearish DailyPlay we chose for Wednesday, March 7th is Realty Income (O). O is part of the Real Estate Sector (XLRE). Over the last month, XLRE has experienced a 3.06% move lower and its 1m and 6m trend have turned bearish on 2/27 while bouncing lower off $30.50 resistance level.
Realty Income’s 1m and 6m trends turned bearish on 2/27 while bouncing lower off $51 resistance level. With a technical score of 2 (out of 10), O is a strong bearish stock that is trending lower.
As a stop loss, if O was to trade above $51 for multiple days, this would invalidate our analysis and suggest getting out of the trade.