OptionsPlay DailyPlay

The bearish DailyPlay we chose for Thursday, Oct 4th is Monster Energy (MNST). MNST is part of the Technology Sector (XLP). Over the last month, XLP has experienced a 0.17% move lower and its 1m and 6m trend has turned bearish yesterday and has bounced lower off its $54.50 resistance level.

Monster Energy’s 1m and 6m trends turned bearish on 9/24 and recently broke below its $58 support level which now becomes resistance. With a technical score of 4 (out of 10), MNST is a weak stock that is likely to continue lower.

View this Trade Idea on MNST

As a stop loss, if MNST was to trade below $58 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

How to Hedge a Portfolio w/ Nasdaq-100 Index Options – Thurs 10/4 @ 4:15PM EST