OptionsPlay DailyPlay

The bearish DailyPlay we chose for Thursday Jan 19th is Tesoro (TSO). TSO is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 1.80% move lower and its 1m trend has turned bearish on 1/9 while breaking below its $75 support level.

Tesoro’s 1m and 6m trends turned bearish on 1/9 while breaking below its $82 support level. With a technical score of 4 (out of 10), TSO looks positioned to continue this strong bearish trend lower.

View this Trade Idea on TSO

As a stop loss, if TSO was to trade above $82 for multiple days, this would invalidate our analysis and suggest getting out of the trade.