OptionsPlay DailyPlay

The bullish DailyPlay we chose for Friday Feb 10th is Texas Instruments (TXN). TXN is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 3.58% move higher and its 1m and 6m trend has turned bullish on 1/3 while recently breaking above its $51 resistance level.

Texas Instrument’s 1m and 6m trends turned bullish on 1/20 while breaking above its $75 resistance level which now becomes support. With a technical score of 6 (out of 10), TXN looks positioned to continue this strong bullish trend higher.

View this Trade Idea on TXN

As a stop loss, if TXN was to trade below $75 for multiple days, this would invalidate our analysis and suggest getting out of the trade.