The bullish DailyPlay we chose for Tuesday Aug 15th is Facebook (FB). FB is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 2.02% move higher and its 1m and 6m trend has turned bullish yesterday while bouncing higher off its $57 support level.
Facebook’s 1m and 6m trends turned bullish on 7/7 and recently bounced higher off its $167 support level. With a technical score of 9 (out of 10), FB is a strong bullish stock that looks to continue higher.
As a stop loss, if FB was to trade below $167 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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