The bullish DailyPlay we chose for Friday, May 3rd is Nektar Therapeutics (NKTR). NKTR is part of the Healthcare Sector (XLV). XLV has declined 2.40% lower over the past month and its 1m and 6m trend turned neutral and bearish yesterday but just broke above a major resistance level at $89.
Nektar Therapeutic’s 1m and 6m trends turned bearish on April 14th and recently bounced higher off its $31.50 major support level yesterday. With a technical score of 2 (out of 10), NKTR is a weak stock that may jump higher on earnings next week.
As a stop loss, if NKTR was to trade below $31.50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.