DailyPlay

S&P 500 Market Outlook: Bullish

Bullish Trade: ATVI $55.01 – Communication

The bullish DailyPlay we chose for Friday, Sept 20th is Activision (ATVI). ATVI is part of the Communication Sector (XLC). XLC has rallied 4.01% higher over the past month and its 1m and 6m trend turned bullish on Sept 4th while recently bouncing higher off its $55 support level. 

Activision’s 1m and 6m trend turned bullish on Aug 26th and recently bounced higher off its $54 support level. With a technical score of 9 (out of 10), ATVI is a strong stock that will likely continue higher.

As a stop loss, if ATVI was to trade below $54 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View ATVI Trade

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S&P 500 Market Outlook: Bullish

Bullish Trade: SO $60.80 – Utilities

The bullish DailyPlay we chose for Thursday, Sept 19th is Southern Co (SO). SO is part of the Utilities Sector (XLU). XLU has rallied 3.30% higher over the past month and its 1m and 6m trend turned bullish on Aug 18th while recently bouncing higher off its $63 support level. 

Southern Co’s 1m and 6m trend turned bullish on Aug 6th and recently bounced higher off its $59 support level. With a technical score of 9 (out of 10), SO is a strong stock that will likely continue higher.

As a stop loss, if SO was to trade below $59 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View SO Trade

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Upcoming Event:

Sept 19th – Event Canceled

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S&P 500 Market Outlook: Bullish

Bearish Trade: FRC $95.51 – Financial

The bearish DailyPlay we chose for Wednesday, Sept 18th is First Republic (FRC). FRC is part of the Financial Sector (XLF). XLF has rallied 6.96% higher over the past month and its 1m and 6m trend remains bullish but has reached overbought and recently was rejected at its $28.50 resistance level.

First Republic’s 1m and 6m trend turned bullish and neutral on Sept 13th and recently bounced lower off its $96 resistance level. With a technical score of 4 (out of 10), FRC is a weak stock that will likely continue lower.

As a stop loss, if CVS was to trade above $96 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View FRC Trade

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Upcoming Events:

Sept 19th – Event Canceled

Technical Analysis Trading Strategies– Thur 9/26 @ 4:15PM EST Register Now

Bullish – TLT $136.54 – Interest Rate

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 long term treasury yields. After a significant selloff over the past few weeks, it has approached oversold and support levels. Coupled with the Fed’s rate policy and global interest rates below 0%, yields may continue to fall. Expecting TLT to bounce higher, Michael Khouw suggests buying a Nov 136/144 Call Vertical for $3.00 Debit. As of Friday’s close, these calls were trading at a $2.57 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: TLT Options ActionView TLT Trade

Upcoming Event:

Sept 19th – Event Canceled

Technical Analysis Trading Strategies – Sept 26th @ 4:15 PM EST – Register Now

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S&P 500 Market Outlook: Bullish

Bearish Trade: PFE $37.28 – Healthcare

The bearish DailyPlay we chose for Friday, Sept 13th is Pfizer (PFE). PFE is part of the Healthcare Sector (XLV). XLV has declined 0.14% lower over the past month and its 1m and 6m trend remains bullish but has reached overbought conditions and recently was rejected at $92 resistance. 

Pfizer’s 1m and 6m trend turned bearish on July 29th and recently bounced lower off its $38 resistance level. With a technical score of 4 (out of 10), PFE is a weak stock that will likely continue lower.

As a stop loss, if PFE was to trade above $38 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View PFE Trade

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S&P 500 Market Outlook: Bullish

Bearish Trade: UBER $34.00 – Technology

The bearish DailyPlay we chose for Thursday, Sept 12th is Uber (UBER). UBER is part of the Technology Sector (XLK). XLK has rallied 4.98% higher over the past month and its 1m and 6m trend remains bullish but has reached overbought conditions and recently was rejected at $82 resistance. 

UBER’s 1m trend turned neutral on Sept 9th and recently bounced lower off its $35 resistance level. With a technical score of 2 (out of 10), UBER is a weak stock that will likely continue lower.

As a stop loss, if UBER was to trade above $35 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View UBER Trade

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S&P 500 Market Outlook: Bullish

Bullish Trade: CVS $62.76 – Healthcare

The bullish DailyPlay we chose for Friday, Sept 6th is CVS (CVS). CVS is part of the Healthcare Sector (XLV). XLV has rallied 1.07% higher over the past month and its 1m and 6m trend remains bearish but has broken above its $91 resistance level and continues to print higher lows. 

CVS’s 1m and 6m trend turned bullish on Aug 7th and recently bounced higher off its $60 support level. With a technical score of 9 (out of 10), CVS is a strong stock that will likely continue higher.

As a stop loss, if CVS was to trade below $60 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View CVS Trade

DailyPlay Trades & Performance

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Upcoming Event:

Prepare Your Portfolio Recessions & Bear Markets– Thur 9/12 @ 4:15PM EST – Register Now