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

The bearish DailyPlay we chose for Thursday, Oct 4th is Monster Energy (MNST). MNST 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), MNST is a weak stock that is likely to continue lower.

View this Trade Idea on MNST

As a stop loss, if MNST was to trade below $58 for multiple days, this would invalidate our analysis and suggest getting out of the trade.