OptionsPlay DailyPlay

The bullish DailyPlay we chose for Tuesday April 3rd is NRG Energy (NRG). NRG is part of the Utilities Sector (XLU). Over the last month, XLU has experienced a 2.18% move higher and its 1m trend has turned bullish on 3/27 while breaking above its $50 resistance level.

NRG Energy’s 1m and 6m trends turned bullish on 3/1 and recently broke above its $30 resistance level which now becomes support. With a technical score of 9 (out of 10), NRG is a strong bullish stock that will likely continue higher.

View this Trade Idea on NRG

As a stop loss, if NRG was to trade below $30 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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