Swing Trade Idea (UNP) – May 17, 2022
Our bearish trade for Tuesday, May 17th is Union Pacific Corporation (UNP). UNP is part of the Industrial Sector and UNP has underperformed against this sector by -0.47% over the last month.
UNP recently broke below a key level of $228 and respected this level on the retest, which provides a good risk/reward bearish entry. Both the 1M and 6M trends are Bearish.
As a close, if UNP were to trade above $233 for multiple days, this would invalidate our analysis and focus cutting losses on the trade. We also consider cutting losses on this options trade if the value of the vertical spread moves above $10.64.
