Sears Holding Corp. (NASDAQ:SHLD) reported earnings today. The stock has since sold off, moving down sharply over 7% to $33.45. SHLD has been trending lower for a few months, and this tells me that when Sears Holding Corp. (NASDAQ:SHLD) reaches a solid support level it should stage a nice bounce for a swing trade.
With that in mind, I have isolated the next best support area where we can buy SHLD for a quick trade. The $30.90 area is a possible bounce level for the stock and we will be watching it very closely as it nears that level to alert us when exactly we should enter the trade.