OptionsPlay DailyPlay

The bullish DailyPlay we chose for Thursday April 20th is Best Buy (BBY). BBY is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 0.44% move higher and its 1m and 6m trend has turned bullish on 3/17 and has recently broke above its $87.50 resistance level.

Best Buy’s 1m and 6m trends turned bullish on 3/24 and recently bounced higher off its $48 support level. With a technical score of 9 (out of 10), BBY is a strong bullish stock that looks to continue higher.

View this Trade Idea on BBY

As a stop loss, if BBY was to trade below $48 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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