OptionsPlay DailyPlay

The bullish DailyPlay we chose for Thursday, Nov 1st is Walgreens (WBA). WBA is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 1.49% move higher and its 1m and 6m trend has turned bullish on 10/29 while breaking above its $55 resistance level which now becomes support.

Walgreen’s 1m and 6m trends turned bullish on 10/25 and recently broke above its $78 resistance level which now becomes support. With a technical score of 10 (out of 10), WBA is a bullish stock that is likely to continue higher.

View this Trade Idea on WBA

As a stop loss, if WBA was to trade below $78 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

Learn to Trade Options: Leverage Technical Analysis w/ Nasdaq-100 Index Options – Thurs 11/1 @ 4:15PM EST