The bullish DailyPlay we chose for Wednesday, May 22nd is J.P. Morgan (JPM). JPM is part of the Financial Sector (XLF). XLF has rallied 0.24% higher over the past month and its 1m and 6m trend turned neutral and bullish yesterday and recently bounced higher off its $26.70 support level.
J.P. Morgan’s 1m and 6m trends turned neutral and bullish yesterday and recently bounced higher off its $110 major support level yesterday. With a technical score of 6 (out of 10), JPM is a neutral stock that is starting to turn higher.
As a stop loss, if JPM was to trade below $110 for multiple days, this would invalidate our analysis and suggest getting out of the trade.