OptionsPlay DailyPlay

The bullish DailyPlay we chose for Thursday Dec 8th is Bank of NY Mellon (BK). BK is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 15.66% move higher and it’s 1m and 6m trend turned bullish on 11/7 while breaking above its $23 resistance level.

Bank of NY Mellon’s 1m and 6m trends turned bullish on 10/19 and recently bounced higher off its $47 support level. With a technical score of 4 (out of 10), BK looks positioned to continue this strong bullish trend higher.

View this Trade Idea on BK

As a stop loss, if BK was to trade below $47 for multiple days, this would invalidate our analysis and suggest getting out of the trade.