OptionsPlay DailyPlay

The bearish DailyPlay we chose for Tuesday July 28th is ConocoPhillips (COP). COP is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 9.27% move lower as both 1-month and 6-month trends are bearish.

ConocoPhillips’ 1-month and 6-month trends indicators remain bearish as it recently hit a new 52-week low. COP continues to show negative momentum as it looks positioned to continue lower. Earnings release on July 30th.

View this trade idea on $COP