OptionsPlay DailyPlay

The bearish DailyPlay we chose for Thursday, Jan 10th is Gartner (IT). IT is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 1.89% move lower and its 1m and 6m trend have turned bearish on 12/4 while testing its major resistance level at $64.

Gartner’s 1m and 6m trends turned bearish on 12/17 and recently bounced lower off its $130 resistance level. With a technical score of 5 (out of 10), IT is a neutral stock that is starting to turn lower.

View this Trade Idea on IT

As a stop loss, if IT was to trade above $130 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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