OptionsPlay DailyPlay

The bearish DailyPlay we chose for Friday Feb 3rd is Zions Bank (ZION). ZION is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 1.11% move lower and its 1m trend has bearish on 1/31 and currently testing its $23.20 support level.

Zions Bank’s 1m and 6m trends turned bearish and neutral today while breaking below its $42 support level . With a technical score of 10 (out of 10), ZION is a strong bullish stock that looks to have topped and correcting lower.

View this Trade Idea on ZION

As a stop loss, if ZION was to trade above $42 for multiple days, this would invalidate our analysis and suggest getting out of the trade.