The bullish DailyPlay we chose for Tuesday, July 10th is Facebook (FB). FB is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 0.21% move lower but its 1m/6m trend has turned bullish yesterday while breaking above its $70 resistance level which now becomes support.
Facebook’s 1m and 6m trends turned bullish on 7/5 and recently bounced higher off its $190 support level. With a technical score of 8 (out of 10), FB is a strong bullish stock that will likely continue higher.
As a stop loss, if FB was to trade below $200 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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