OptionsPlay DailyPlay

The bearish DailyPlay we chose for Friday July 7th is TripAdvisor (TRIP). TRIP is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 2.90% move lower and its 1m and 6m trend has turned bearish and neutral on 6/22 while breaking below its $89 support level.

TripAdvisor’s 1m and 6m trends turned bearish on 7/6 and recently bounced lower off its $39 resistance level. With a technical score of 2 (out of 10), TRIP is a strong bearish stock that is likely to continue lower.

View this Trade Idea on TRIP

As a stop loss, if TRIP was to trade above $39 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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