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.
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.
Generate monthly income using OptionsPlay’s new Enhanced Income functionality!