Bearish – LOW $99.49 – Consumer Discretionary
The bearish DailyPlay we chose for Friday, Aug 2nd is Lowe’s (LOW). LOW is part of the Consumer Discretionary Sector (XLY). XLY has declined 1.19% lower over the past month and its 1m trend turned bearish on July 30th while breaking below its $120 support level.
Lowe’s 1m and 6m trend turned bearish yesterday and recently broke below its $100 support. With a technical score of 5 (out of 10), LOW is a neutral stock that is starting to turn lower.
As a stop loss, if LOW was to trade above $102 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Risk & Money Management of Options Trading – Thurs 8/8 @ 4:15 PM EST –Register Now
Track DailyPlay Positions
Track open DailyPlay trades with Live P&L on all positions in our Portfolio tool!