OptionsPlay DailyPlay

The bullish DailyPlay we chose for Wednesday Jan 24th is Charles Schwab (SCHW). SCHW is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 6.88% move higher and its 1m and 6m trend has turned bullish on 1/3 while breaking above its $28 resistance level which now becomes support.

Charles Schwab’s 1m and 6m trends turned bullish on 11/16 and recently broke higher above its $54 resistance level which now becomes support. With a technical score of 9 (out of 10), SCHW is a strong bullish stock that is likely to continue higher.

View this Trade Idea on SCHW

As a stop loss, if SCHW was to trade below $54 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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