The bullish DailyPlay we chose for Friday, January 11th is Starbucks (SBUX). SBUX is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 1.00% move higher and its 1m and 6m trend have turned bullish on 1/8 and has recently broken above its $100 resistance level.
Starbuck’s 1m and 6m trends turned neutral on 1/9 but have continued to print higher highs and higher lows. With a technical score of 10 (out of 10), SBUX is a strong stock that will likely continue higher.
As a stop loss, if SBUX was to trade below $62 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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