The bullish DailyPlay we chose for Thursday, May 31st is Facebook (FB). FB is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 6.75% move higher and its 1m/6m trend has turned bullish on 5/4 and recently broke above its $69 resistance level which now becomes support.
Facebook’s 1m and 6m trends turned bullish on 5/4 and recently broke above its $180 resistance level which becomes support. With a technical score of 6 (out of 10), FB is a neutral stock that starting to trend higher.
As a stop loss, if FB was to trade below $182 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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