S&P 500 Market Outlook: Bullish
Bullish Trade: ETFC $45.70 – Financial
The bullish DailyPlay we chose for Wednesday, Dec 18th is E*Trade (ETFC). ETFC is part of the Financial Sector (XLF). XLF has rallied 4.00% higher over the past month and its 1m and 6m trend turned bullish on Dec 5th and recently broke above its $30 resistance level.
E*Trade’s 1m and 6m trend turned bullish on Nov 25th and recently bounced higher off its $44 support level. With a technical score of 5 (out of 10), ETFC is a neutral that will likely turn higher.
As a stop loss, if ETFC was to trade below $44 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.