OptionsPlay DailyPlay

The bearish DailyPlay we chose for Friday Sept 22nd is J.M. Smucker (SJM). SJM is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 1.44% move lower and its 1m and 6m trend has turned bearish on 9/20 while breaking below its 200D SMA.

J.M. Smucker’s 1m and 6m trends turned bearish on 9/20 while breaking below its $106.50 support level which now becomes resistance. With a technical score of 1 (out of 10), SJM is a strong bearish stock that is likely to continue lower.

View this Trade Idea on SJM

As a stop loss, if SJM was to trade above $106.50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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