Author: OP Admin

Bullish – FIS $110.89 – Technology

The bullish DailyPlay we chose for Monday, April 22nd is Fidelity National (FIS). FIS is part of the Technology Sector (XLK). XLK has rallied 6.24% higher over the past month and its 1m and 6m trend turned bullish on March 11th and just set a new 52 week high.

Fidelity National’s 6m trends turned bullish on Feb 10th and recently broke above its $110 resistance level which now becomes support. With a technical score of 7 (out of 10), FIS is a strong stock that will likely continue higher.

As a stop loss, if FIS was to trade below $110 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
View FIS Trade

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The bullish DailyPlay we chose for Thursday, April 18th is MGM (MGM). MGM is part of the Consumer Discretionary Sector (XLY). XLY has rallied 6.31% higher over the past month and its 1m and 6m trend turned bullish on March 15th and just set a new 52 week high.

MGM’s 1m and trends turned bullish on April 12th while breaking above its $27 resistance level which now becomes support. With a technical score of 6 (out of 10), MGM is a neutral stock that is starting to trend higher.

As a stop loss, if MGM was to trade below $27 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View MGM Trade

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The bullish DailyPlay we chose for Wednesday, April 17th is Mohawk Industries (MHK). MHK is part of the Consumer Discretionary Sector (XLY). XLY has rallied 6.64% higher over the past month and its 1m and 6m trend turned bullish on March 15th and just set a new 52 week high.

Mohawk’s 1m and trends turned bullish on April 5th while breaking above its $130 resistance level which now becomes support. With a technical score of 3 (out of 10), MHK is a weak stock that is starting to trend higher.

As a stop loss, if MHK was to trade below $130 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View MHK Trade

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The idea presented is the opinion of the Options Action staff and not a recommendation by OptionsPlay.

On Friday’s Options Action, the crew analyzed the performance of Netflix stock. Netflix was one of the best-performing stocks over the past decade but has experienced high volatility on pullbacks. Coupled with recent competition and relative underperformance, another selloff is likely. Expecting NFLX to trade lower, Michael Khouw suggests buying a June 340/300 Put Vertical for an $11.50 Debit. As of Friday’s close, these puts were trading at an $11.30 Debit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: NFLX Options Action Video

View NFLX Trade

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Bullish – STT $69.00 – Financials

The bullish DailyPlay we chose for Thursday, April 11th is State Street (STT). STT is part of the Financial Sector (XLF). XLF has rallied 0.72% higher over the past month and its 1m and 6m trend turned bullish on April 1st while breaking above its $26 resistance level.

State Street’s 1m and trends turned bullish yesterday while bouncing higher off is $68 support level. With a technical score of 2 (out of 10), STT is a weak stock that is starting to trend higher.

As a stop loss, if STT was to trade below $68 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View STT Trade

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Bearish – FLIR $48.45 – Technology

The bearish DailyPlay we chose for Wednesday, April 10th is Flir Systems (FLIR). FLIR is part of the Technology Sector (XLK). XLK has rallied 9.17% higher over the past month and its 1m and 6m trend turned bullish on March 11th but has reached a double top and overbought levels.

Flir System’s 1m and 6m trends turned bearish on March 19th while breaking below its $49 support level, which now becomes resistance. With a technical score of 3 (out of 10), FLIR is a weak stock that will likely continue lower.

As a stop loss, if FLIR was to trade above $49 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View FLIR Trade

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