Global Payments (GPN) – Plastic is King – Dec 3rd, 2019
S&P 500 Market Outlook: Bullish
Bullish Trade: GPN $178.07 – Technology
The bullish DailyPlay we chose for Tuesday, Dec 3rd is Global Payments (GPN). GPN is part of the Technology Sector (XLK). XLK has rallied 3.86 % higher over the past month and its 1m and 6m trend turned bullish on Oct 10th and recently broke above its $85 resistance level.
Global Payment’s 1m and 6m trend turned bullish on Oct 29th and recently broke above its $175 resistance level. With a technical score of 8 (out of 10), GPN is a strong stock that will likely continue higher.
As a stop loss, if GPN was to trade below $175 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.