OptionsPlay DailyPlay

The bearish DailyPlay we chose for Tuesday Feb 28th is Hess Corp (HES). HES is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 4.55% move lower and its 1m and 6m trend has turned bearish on 2/22 while breaking below its $72 support level.

Hess Corp’s 1m and 6m trends turned bearish on 1/27 while breaking below its $54 support level which now acts as resistance. With a technical score of 2 (out of 10), HES is a strong bearish stock that looks to continue lower.

View this Trade Idea on HES

As a stop loss, if HES was to trade above $54 for multiple days, this would invalidate our analysis and suggest getting out of the trade.