The bullish DailyPlay we chose for Wednesday Sept 20th is Red Hat (RHT). RHT is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 3.47% move higher and its 1m and 6m trend has turned bullish on 8/22 yesterday while bouncing higher off its $58.50 support level.
Red Hat’s 1m and 6m trends turned bullish on 8/14 and recently bounced higher off its $106 support level. With a technical score of 9 (out of 10), RHT is a strong bullish stock that looks to continue higher.
As a stop loss, if RHT was to trade below $106 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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