OptionsPlay DailyPlay

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.

View this Trade Idea on GM

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