The bullish DailyPlay we chose for Wednesday, Aug 8th is United Airlines (UAL). UAL is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 4.08% move higher and its 1m and 6m trend has turned bullish on 7/25 while breaking above its $75 resistance level which now becomes support.
United Airline’s 1m and 6m trends turned bullish on 7/13 and recently bounced higher off its $80 support level. With a technical score of 9 (out of 10), UAL is a strong bullish stock that will likely continue higher.
As a stop loss, if UAL was to trade below $80 for multiple days, this would invalidate our analysis and suggest getting out of the trade.