The bullish DailyPlay we chose for Thursday, May 17th is Apple (AAPL). AAPL is part of the Technology Sector (XLK). Over the last month, XLK has experienced an 2.13% move higher and its 1m/6m trend has turned bullish on 5/4 while breaking above its $68 resistance level which now becomes support.
Apple’s 1m and 6m trends turned bullish on 5/2 and recently broke above its $185 resistance level which becomes support. With a technical score of 7 (out of 10), AAPL is a strong bullish stock that will likely continue higher.
As a stop loss, if AAPL was to trade below $185 for multiple days, this would invalidate our analysis and suggest getting out of the trade.