Charles Schwab (SCHW) – Bearish DailyPlay for Tuesday July 31st, 2018

The bearish DailyPlay we chose for Tuesday, July 31st is Charles Schwab (SCHW). SCHW is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 5.87% move higher and its 1m and 6m trend turned bullish on 7/23 but recently bounced lower off its $28.25 resistance level.

Charles Schwab’s 1m and 6m trends turned bearish yesterday and recently bounced lower off its $54 resistance level. With a technical score of 5 (out of 10), SCHW is a neutral stock that has started to trend lower.

View this Trade Idea on SCHW

As a stop loss, if SCHW was to trade above $54 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

Options Education Series: How to Leverage Technical Analysis w/ Options Trading– Thurs 8/2 @ 4:15PM EST