NEW BEARISH Plays
Symantec Corp. - SYMC - close: 20.05 change: -0.44
Stop Loss: 20.75
Current Gain/Loss: unopened
Entry on March -- at $--.--
Listed on March 13, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 6.9 million
New Positions: Yes, see below
Why We Like It:
SYMC is in the technology sector. The company provides security software. The company's latest earnings report in late January were not that bad with SYMC beating on both the top and bottom line. Guidance was in-line but investors sold the news pretty hard. SYMC has spent much of February trying to recover but never made it very far.
The selling resumed again in March and now SYMC is on the verge of breaking down below major support near $20.00. I am suggesting a trigger to open bearish positions at $19.85. If triggered our target is the $18.00-17.00 zone.
Trigger @ 19.85
Suggested Position: short SYMC stock @ (trigger)
- (or for more adventurous traders, try this option) -
Buy the JUL $20 PUT (SYMC1419S20) current ask $1.29