Swing Trade Idea (MMC) – July 26, 2022
Our bearish trade for Tuesday, July 26nd is Marsh & McLennan Companies Inc.(MMC). MMC is part of the Financial sector, which has performed at 4.11% over the last week, as it reached an area of resistance, with MMC following suit as it is trading at a key resistance level.
MMC recently failed to break above a key resistance level at $158, as it is entering an over-bought condition. This provides a good risk/reward bearish entry.
As a close, if MMC were to trade above $160 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 below $2.35.
