OptionsPlay DailyPlay

The bullish DailyPlay we chose for Tuesday Oct 2nd is Accenture (ACN). ACN is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 0.20% move higher and its 1m and 6m trend has turned bullish on 9/27 and recently broke higher above off its $75 resistance level.

Accenture’s 1m and 6m trends turned bullish yesterday and recently bounced higher off its $170 support level. With a technical score of 8 (out of 10), ACN is a bullish stock that is likely to continue higher.

View this Trade Idea on ACN

As a stop loss, if ACN was to trade below $170 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

Learn to Trade Options: How to Hedge a Portfolio w/ Nasdaq-100 Index Options – Thurs 10/4 @ 4:15PM EST