Burlington (BURL) – Short Opportunity on Rally – June 12th, 2019

Bearish – BURL $38.86 – Retail

The bearish DailyPlay we chose for Wednesday, June 12th is Burlington Stores (BURL). BURL is part of the Retail Sector (XRT). XRT has declined 5.30% lower over the past month and its 1m and 6m trend turned bearish and neutral on May 7th and just broke bounced lower off its $42 resistance level.

Burlington’s 1m and 6m trend turned bullish on June 7th but is approaching its $168 resistance level on very low volume and weakening money flow. With a technical score of 6 (out of 10), BURL is a neutral stock that will likely turn lower.

As a stop loss, if BURL was to trade above $168 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View BURL Trade

Upcoming Event:

Option Strategies for a Bear Market¬†– 6/12 @ 4:15PM EST –Register Now

Track DailyPlay Positions

Track open DailyPlay trades with Live P&L on all positions in our Portfolio tool!