The bullish DailyPlay we chose for Friday May 19th is Microsoft (MSFT). MSFT is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 4.02% move higher and its 1m and 6m trend has turned bullish on 4/20 while breaking above its $53.50 resistance level.
Microsoft’s 1m and 6m trends turned bullish on 4/20 while breaking above its $66.50 resistance level on high volume which now becomes support. 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 $66.50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Generate monthly income using OptionsPlay’s new Enhanced Income functionality!