OptionsPlay DailyPlay

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.

View this Trade Idea on ETFC

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.

Learn to Trade Options w/ OptionsPlay’s new Educational Webinar Series!