OptionsPlay DailyPlay

The bullish DailyPlay we chose for Wednesday December 16th is Fifth Third Bank (FITB). FITB is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 0.58% move higher and recently the 1m and 6m trend turned bearish on 12/09, however it just broke above its $23.50 major resistance level on high volume

Fifth Third Bank’s 1m and 6m trends turned bullish today and recently bounced higher off its $19.50 support level. With a technical score of 7 (out of 10), FITB looks positioned to continue this strong bullish trend lower.

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