The bullish DailyPlay we chose for Thursday Dec 21th is E*TRADE (ETFC). ETFC is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 6.13% move higher and its 1m and 6m trend has turned bullish on 11/28 while breaking above its $27 resistance level which now becomes support.
E*Trade’s 1m and 6m trends turned bullish on 11/13 and recently bounced higher off its $48 support level. With a technical score of 9 (out of 10), ETFC is a strong bullish stock that is likely to continue higher.
As a stop loss, if ETFC was to trade below $48 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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