DailyPlay

Bearish – WHR $126.05 – Consumer Discretionary

The bearish DailyPlay we chose for Friday, May 24th is Whirlpool (WHR). WHR is part of the Consumer Discretionary Sector (XLY). XLY has declined 5.87% lower over the past month and its 1m and 6m trend turned neutral and bearish on May 20th and just broke below its $114 support level.

Whirlpool’s 1m and 6m trends turned bearish yesterday while breaking below its $128 support level which now becomes resistancel. With a technical score of 7 (out of 10), WHR is a strong stock that is starting to turn lower.

As a stop loss, if WHR was to trade above $128 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View WHR Trade

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Bearish – BA $352.78 – Industrial

The bearish DailyPlay we chose for Friday, May 23rd is Boeing (BA). BA is part of the Industrial Sector (XLI). XLI has declined 4.90% lower over the past month and its 1m and 6m trend turned bearish and neutral on May 13th and just bounced lower off its $76 resistance level.

Boeing’s 1m and 6m trends turned bearish on May 7th while breaking below its $360 support level which now becomes resistancel. With a technical score of 7 (out of 10), BA is a strong stock that is starting to turn lower.

As a stop loss, if BA was to trade above $360 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View BA Trade

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Bullish – JPM $111.73 – Financials

The bullish DailyPlay we chose for Wednesday, May 22nd is J.P. Morgan (JPM). JPM is part of the Financial Sector (XLF). XLF has rallied 0.24% higher over the past month and its 1m and 6m trend turned neutral and bullish yesterday and recently bounced higher off its $26.70 support level.

J.P. Morgan’s 1m and 6m trends turned neutral and bullish yesterday and recently bounced higher off its $110 major support level yesterday. With a technical score of 6 (out of 10), JPM is a neutral stock that is starting to turn higher.

As a stop loss, if JPM was to trade below $110 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View JPM Trade

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The idea presented is the opinion of the Options Action staff and not a recommendation by OptionsPlay.

On Friday’s Options Action, the crew analyzed the performance of Home Depot stock. HD has recently underperformed the homebuilder’s sector and recently broke below trendline support. Coupled with a weaker outlook on retail stocks and the economy, suggests HD may miss on earnings next week. Expecting HD to trade lower, Michael Khouw suggests buying a June 190/180 Put Vertical for a $2.50 Debit. As of Friday’s close, these puts were trading at a $2.77 Debit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: HD Options Action Video

View HD Trade

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Bullish – COST $247.44 – Consumer Staples

The bullish DailyPlay we chose for Friday, May 17th is Costco (COST). COST is part of the Consumer Staples Sector (XLP). XLP has rallied 2.48% higher over the past month and its 1m and 6m trend turned bullish on May 14th but just bounced higher off its $56 support level.

Costco’s 1m and 6m trends turned bullish and neutral on May 15th and recently bounced higher off its $240 major support level yesterday. With a technical score of 7 (out of 10), COST is a strong stock that will likely continue higher.

As a stop loss, if COST was to trade below $240 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View COST Trade

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Bullish – NWL $15.63 – Consumer Discretionary

The bullish DailyPlay we chose for Thursday, May 16th is Newell Brands (NWL). NWL is part of the Consumer Discretionary Sector (XLY). XLY has declined 2.85% lower over the past month and its 1m and 6m trend turned neutral and bearish on May 13th but just bounced higher off its $114 support level.

Newell Brand’s 1m and 6m trends turned bullish and neutral on May 10th and recently bounced higher off its $15 major support level yesterday. With a technical score of 2 (out of 10), NWL is a weak stock that is starting to turn higher

As a stop loss, if NWL was to trade below $15 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View NWL Trade

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Bullish – HON $168.16 – Industrials

The bullish DailyPlay we chose for Wednesday, May 15th is Honeywell (HON). HON is part of the Industrial Sector (XLI). XLI has declined 3.12% lower over the past month and its 1m and 6m trend turned neutral and bearish on May 13th but just bounced higher off its $74 support level.

Honeywell’s 1m and 6m trends turned neutral and bullish on May 13th and recently bounced higher off its $165 major support level yesterday. With a technical score of 8 (out of 10), HON is a strong stock that will likely continue higher.

As a stop loss, if HON was to trade below $165 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View HON Trade

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Bullish – WMT $101.91 – Consumer Staples

The idea presented is the opinion of the Options Action staff and not a recommendation by OptionsPlay.

On Friday’s Options Action, the crew analyzed the performance of Walmart stock. Walmart has significantly outperformed the market over the past year after underperforming for a decade. Coupled with stronger fundamentals and earnings next week, WMT looks set to outperform. Expecting WMT to trade higher, Michael Khouw suggests buying a July 100 Call for a $3.75 Debit. As of Friday’s close, these calls were trading at a $4.95 Debit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: WMT Options Action Video

View WMT Trade

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