The bullish DailyPlay we chose for Friday Dec 16th is Charles Schwab (SCHW). SCHW is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 6.72% move higher and it’s 1m and 6m trend turned bullish on 11/7 while breaking above its $23 resistance level.
Charles Schwab’s 1m and 6m trends turned bullish on 11/7 and recently bounced higher off its $38 support level. With a technical score of 8 (out of 10), SCHW looks positioned to continue this strong bullish trend higher.
As a stop loss, if SCHW was to trade below $38 for multiple days, this would invalidate our analysis and suggest getting out of the trade.