OptionsPlay DailyPlay

The bullish DailyPlay we chose for Friday Nov 11th is Valero Energy (VLO). VLO is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 0.21% move higher and it’s 1m and 6m trend turned bullish on 11/9 and recently bounced higher off its $69 support level.

Valero Energy’s 1m and 6m trends turned bullish on 10/21 and recently broke above its $62 resistance level on high volume. With a technical score of 8 (out of 10), VLO looks positioned to continue this strong bullish trend higher.

View this Trade Idea on VLO

As a stop loss, if VLO was to trade below $60 for multiple days, this would invalidate our analysis and suggest getting out of the trade.