OptionsPlay DailyPlay

The bearish DailyPlay we chose for Friday May 29th is Anadarko Petroleum Corporation (APC). APC is part of the Energy Sector (XLE). Over the past month, XLE has experienced a 3.79% move lower as both 1-month and 6-month trends are bearish.

Anadarko Petroleum Corporation has been in a strong bearish trend since the middle of May and recently bounced off its $87.00 resistance level. APC continues to show bearish momentum as it looks positioned to continue lower towards $76.00.

View this trade idea on $APC