OptionsPlay DailyPlay

The bearish DailyPlay we chose for Tuesday Dec 20th is TripAdvisor (TRIP). TRIP is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 3.35% move higher but its 1m trend has just turned neutral and broke below its $83.50 support level.

TripAdvisor’s 1m and 6m trends turned bearish on 11/9 and recently bounced lower off its $49.50 resistance level on high volume. With a technical score of 1 (out of 10), TRIP looks positioned to continue this strong bearish trend lower.

View this Trade Idea on TRIP

As a stop loss, if TRIP was to trade above $49.50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.