OptionsPlay DailyPlay

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.

View this Trade Idea on BAC

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