The bullish DailyPlay we chose for Friday, Feb 8th is Bank of America (BAC). BAC is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 6.13% move higher and its 1m and 6m trend have turned bullish and neutral on 1/16 while breaking above its $25 resistance level.
Bank of America’s 1m and 6m trends turned bullish on 1/16 and recently bounced higher off its $28 support level. With a technical score of 6 (out of 10), BAC is a neutral stock that is starting to trend higher.
As a stop loss, if BAC was to trade below $28 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Webinar Recording: Discounted Stock Purchase w/ Cash Secured Puts
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