Bullish DailyPlay for Wednesday Jan 24th, 2018 – Charles Schwab (SCHW)

The bullish DailyPlay we chose for Wednesday Jan 24th is Charles Schwab (SCHW). SCHW is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 6.88% move higher and its 1m and 6m trend has turned bullish on 1/3 while breaking above its $28 resistance level which now becomes support.

Charles Schwab’s 1m and 6m trends turned bullish on 11/16 and recently broke higher above its $54 resistance level which now becomes support. With a technical score of 9 (out of 10), SCHW is a strong bullish stock that is likely to continue higher.

View this Trade Idea on SCHW

As a stop loss, if SCHW was to trade below $54 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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