OptionsPlay DailyPlay

BThe bullish DailyPlay we chose for Tuesday, Jan 23rd is Walgreens (WBA). WBA is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 2.72% move higher and its 1m and 6m trend have turned bullish on 1/16 while breaking above its $57 resistance level which now becomes support.

Walgreens’ 1m and 6m trends turned bullish on 1/11 and recently broke higher above its $76 resistance level which now becomes support. With a technical score of 4 (out of 10), WBA is a neutral stock that is starting to trend higher.

View this Trade Idea on WBA

As a stop loss, if WBA was to trade below $76 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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