OptionsPlay DailyPlay

The bullish DailyPlay we chose for Tuesday Feb 14th is E*Trade (ETFC). ETFC is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 2.87% move higher and its 1m and 6m trend has turned bullish on 2/3 and recently broke above its $24 resistance level.

E*Trade’s 1m and 6m trends turned bullish today while breaking above its $36 resistance level which now becomes support. With a technical score of 9 (out of 10), ETFC looks positioned to continue this strong bullish trend higher.

View this Trade Idea on ETFC

As a stop loss, if ETFC was to trade below $36 for multiple days, this would invalidate our analysis and suggest getting out of the trade.