OptionsPlay DailyPlay

The bullish DailyPlay we chose for Thursday October 29th is General Motors (GM). GM is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 11.42% move higher and its 1m and 6m trend indicator both turned bullish on 10/5.

General Motor’s 1m and 6m trends have turned bullish on 10/7 and recently gapped higher above its $34 resistance level which now becomes support. With a technical score of 8 (out of 10), GM looks positioned to continue this strong bullish trend higher towards its $39 resistance level.

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