The bullish DailyPlay we chose for Wednesday, Feb 13th is General Motors (GM). GM is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 4.20% move higher and its 1m and 6m trend have turned bullish yesterday while breaking above its $108 resistance level.
General Motor’s 1m and 6m trends turned bullish on 1/14 and recently bounced higher off its $38 resistance level which now becomes support. With a technical score of 8 (out of 10), GM is a strong stock that will likely continue higher.
As a stop loss, if GM was to trade below $38 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Upcoming Event: Discounted Stock Purchase w/ Cash Secured Puts – Thurs 2/14 @ 4:15PM EST
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