Monster Energy (MNST) – Bearish DailyPlay for Thursday Oct 4th, 2018

The bearish DailyPlay we chose for Thursday, Oct 4th is Monster Energy (MNSTWealth Strength IndexMNST is Moderately Flat and trending Down). MNSTWealth Strength IndexMNST is Moderately Flat and trending Down is part of the Technology Sector (XLP). Over the last month, XLP has experienced a 0.17% move lower and its 1m and 6m trend has turned bearish yesterday and has bounced lower off its $54.50 resistance level.

Monster Energy’s 1m and 6m trends turned bearish on 9/24 and recently broke below its $58 support level which now becomes resistance. With a technical score of 4 (out of 10), MNSTWealth Strength IndexMNST is Moderately Flat and trending Down is a weak stock that is likely to continue lower.

View this Trade Idea on MNSTWealth Strength IndexMNST is Moderately Flat and trending Down

As a stop loss, if MNSTWealth Strength IndexMNST is Moderately Flat and trending Down was to trade below $58 for multiple days, this would invalidate our analysis and suggest getting out of the trade.