The bullish DailyPlay we chose for Tuesdays, June 5th is Electronic Arts (EA). EA is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 7.99% move higher and its 1m/6m trend has turned bullish on 5/4 and recently broke above its $69 resistance level which now becomes support.
Electronic Art’s 1m and 6m trends turned bullish on 5/4 and recently broke above its $134 resistance level which becomes support. With a technical score of 8 (out of 10), EA is a bullish stock that will likely continue higher.
As a stop loss, if EA was to trade below $134 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Webinar Recording: Leveraging Technical Analysis w/ Options Trading