Thursday September 9, 2021
The bullish DailyPlay for Thursday, September 9th is Fidelity National Information Services Inc (FIS). FIS is part of the Technology sector which has experienced a 2.9% rally in the last month.
Technical View
- Bullish engulfing candles on both daily and weekly timeframes indicate a possible reversal
- Price has declined to a strong area of weekly support and bouncing higher.
- Mean reversion – price has significantly deviated from the 200 D MA to the downside and an upside correction in the range can be expected
Fundamental View
- Merger with WP allows for revenue growth and cost synergies
- FIS offers secular exposure to banking as well as cyclical exposure with emphasis on consumers
- Earnings: Oct 28 (49 Days)
As this is a Debit Spread, look to take profits at 75%-100% and cut losses at 50%:
- Take Profit: $8.36 – $9.56
- Stop Loss: $2.39
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