The bullish DailyPlay we chose for Tuesday July 25th is Amazon (AMZN). AMZN is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 1.33% move higher and its 1m and 6m trend has turned bullish on 7/14 while breaking above its $91 resistance level.
Amazon’s 1m and 6m trends turned bullish on 7/10 and recently broke higher above its $1015 resistance level which now becomes support. With a technical score of 9 (out of 10), AMZN is a strong bullish stock that looks to continue higher.
As a stop loss, if AMZN was to trade below $1015 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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