The bearish DailyPlay we chose for Thursday Sept 27th is T.Rowe Price (TROW). TROW is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 2.27% move lower and its 1m trend has turned bearish yesterday but broke below its $28.50 support level which now becomes resistance.
T.Rowe Price’s 1m and 6m trends turned bearish on 9/7 while breaking below its $114 support level, which now becomes resistance. With a technical score of 5 (out of 10), TROW is a neutral stock that is starting to trend lower.
As a stop loss, if TROW was to trade above $114 for multiple days, this would invalidate our analysis and suggest getting out of the trade.