The bullish DailyPlay we chose for Wednesday, Aug 22nd is Allergan (AGN). AGN is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 5.12% move higher and its 1m and 6m trend has turned bullish on 7/5 and recently broke above its $90 resistance level which now becomes support.
Allergan’s 1m and 6m trends turned bullish on 7/24 and recently broke above its $190 resistance level which now becomes support. With a technical score of 9 (out of 10), AGN is a strong bullish stock that will likely continue higher.
As a stop loss, if AGN was to trade below $190 for multiple days, this would invalidate our analysis and suggest getting out of the trade.