The bullish DailyPlay we chose for Tuesday July 18th is Microsoft (MSFT). MSFT is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 2.34% move higher and its 1m and 6m trend has turned bullish on 7/12 while breaking above its $56 resistance level which now becomes support.
Microsoft’s 1m and 6m trends turned bullish on 7/10 and recently broke above its $71 resistance level and printed a 52-week high today. With a technical score of 8 (out of 10), MSFT is a strong bullish stock that looks to continue higher.
As a stop loss, if MSFT was to trade below $71 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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