OptionsPlay DailyPlay

The bearish DailyPlay we chose for Wednesday Oct 5th is Kellogg (K). K is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 3.79% move lower and it’s 1m and 6m trend turned bearish on 9/23 and recently broke below its $52.50 support level.

Kellogg’s 1m and 6m trends turned bearish on 9/13 and recently broke below its $77 support level on high volume. With a technical score of 3 (out of 10), K looks positioned to continue this strong bearish trend lower.

View this Trade Idea on K