OptionsPlay DailyPlay

The bullish DailyPlay we chose for Thursday, July 26th is SunTrust Banks (STI). STI is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 2.66% move higher and its 1m/6m trend has turned bullish on 7/23 while breaking above its $27.50 resistance level which now becomes support.

SunTrust Bank’s 1m and 6m trends turned bullish on 7/16 and recently broke above its $70 resistance level which now becomes support. With a technical score of 7 (out of 10), STI is a strong bullish stock that will likely continue higher.

View this Trade Idea on STI

As a stop loss, if STI was to trade below $70 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

Webinar Registration: How to Profit w/ Debit Spreads – Thursday 7/26 @ 4:15PM EST.