OptionsPlay DailyPlay

The bearish DailyPlay we chose for Wednesday Mar 15th is United Parcel Service (UPS). UPS is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 0.7% move lower and its 1m trend has turned neutral on 3/9 while bouncing lower off its $66 resistance level.

United Parcel Service’s 1m and 6m trends turned bearish on 1/31 while breaking below its $112 support level on high volume. With a technical score of 4 (out of 10), UPS is a strong bearish stock that looks to continue lower.

View this Trade Idea on UPS

As a stop loss, if UPS was to trade above $112 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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