OptionsPlay DailyPlay

The DailyPlay we chose for Tuesday April 28th is Wal-Mart Stores Inc. (WMT). WMT is part of the Consumer Staples Sector (XLP) which has been under-performing most of the other sectors in the S&P 500. XLP’s 1-month trend is bearish and 6-month trend is neutral as it tests its 50-day moving average. A break below could drive it lower.

Wal-Mart is in a strong bearish trend as it recently broke below its $80.01 support level. After coming back to test this level and bouncing off, WMT looks positioned to move lower. Wal-Mart announces earnings on May 19th.

View this trade idea on $WMT