The bullish DailyPlay we chose for Friday March 10th is JP Morgan (JPM). JPM is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 5.35% move higher and its 1m and 6m trend has turned bullish on 2/3 and recently bounced higher off its $24.50 support level.
JP Morgan’s 1m and 6m trends turned bullish on 2/3 and recently broke above its $90 resistance level on high volume. With a technical score of 10 (out of 10), JPM is a strong bullish stock that looks to continue higher.
As a stop loss, if JPM was to trade below $90 for multiple days, this would invalidate our analysis and suggest getting out of the trade.