The bullish DailyPlay we chose for Thursday June 8th is Borgwarner (BWA). BWA is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 1.13% move higher and its 1m and 6m trend has turned bullish on 5/25 while breaking above its $91 resistance level.
Borgwarner’s 1m and 6m trends turned bullish on 5/30 and recently broke above its $43 resistance level which now becomes support. With a technical score of 8 (out of 10), BWA is a strong bullish stock that looks to continue higher.
As a stop loss, if BWA was to trade below $43 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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