S&P 500 Market Outlook: Neutral & Improving
Bullish Trade: AAPL $210.35 – Technology
The bullish DailyPlay we chose for Wednesday, Aug 20th is Apple (AAPL). AAPL is part of the Technology Sector (XLK). XLK has declined 1.51% lower over the past month but its 1m and 6m trend turned bullish yesterday and bounced higher off its $76 support level.
Apple’s 1m and 6m trend turned bullish on Aug 16th and recently broke above its $207 resistance level. With a technical score of 9 (out of 10), AAPL is a strong stock that will likely continue higher.
As a stop loss, if AAPL was to trade below $205 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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