The bullish DailyPlay we chose for Thursday Aug 31st is Raytheon (RTN). RTN is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 0.18% move higher and its 1m trend has turned bullish yesterday while bouncing higher off its $67 support level.
Raytheon’s 1m and 6m trends turned bullish on 7/3 and just broke above its $180 resistance which now becomes support. With a technical score of 9 (out of 10), RTN is a strong bullish stock that looks to continue higher.
As a stop loss, if RTN was to trade below $180 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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