The bullish DailyPlay we chose for Tuesday, Dec 4th is Cabot Oil (COG). COG is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 1.54% move lower but its 1m and 6m trend have turned bullish yesterday and has recently bounced higher off its $65 support level.
Cabot Oil’s 1m and 6m trends turned bullish on 10/31 and recently bounced higher off its $24 support level. With a technical score of 9 (out of 10), COG is a strong stock that will likely continue higher.
As a stop loss, if COG was to trade below $24 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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