OptionsPlay DailyPlay

The bearish DailyPlay we chose for Wednesday August 3rd is Disney (DIS). DIS is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 2.10% move higher but it’s 1m trend turned neutral today and broke below its $81 support level.

Disney’s 1m and 6m trends turned bearish on 7/20 and recently broke below its $97 support level on high volume. With a technical score of 2 (out of 10), DIS looks positioned to continue this strong bearish trend lower.

Click here to View this Trade on $DIS