S&P 500 Market Outlook: Bullish
Bullish Trade: PYPL $118.56 – Financials
OptionsPlay’s bullish trade for Wednesday, Feb 13th is PayPal Holdings (PYPL). PYPL is part of the Financials Sector (XLF). XLF has rallied 1.40% higher over the past month and its 1m and 6m trend turned bullish on Feb 5th recently broke out above its $30 resistance level.
PYPL’s 1m trend turned bullish on Feb 3rd and recently broke above its $118 resistance level and pulled back to provide a good buying opportunity. With a technical score of 7 (out of 10), PYPL is a strong stock that will likely continue higher.
As a stop loss, if PYPL were to trade below $118 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade. We also recommend cutting losses on this options trade if the value of the vertical spread declines below $1.50.
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