OptionsPlay DailyPlay

The bullish DailyPlay we chose for Monday February 29th is Consolidated Edison (ED). ED is part of the Utilities Sector (XLU). Over the last month, XLU has experienced a 5.34% move higher and it’s 1m and 6m trend turned bullish on 1/22 while breaking above its $44 minor resistance level.

Consolidated Edison’s 1m and 6m trends turned bullish on 12/23 and recently broke above its $69 resistance level on high volume. With a technical score of 9 (out of 10), ED looks positioned to continue this strong bullish trend higher.

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