Swing Trade Idea – (V) – May 15, 2020
Our bullish trade for Friday, May 15th is Visa (V).
V is part of the Technology Sector (XLK). XLK has experienced a 3.21% gain in the last month and its 1M trend turned bullish on April 8th and 6M trend turned bullish on April 22nd.
V’s 1M and 6M trend turned bullish on May 14th and its price has recently pulled back to an area of support providing a good bullish opportunity. With a technical score of 9 (out of 10), V is a very strong stock that will likely continue higher.
As a stop loss, if V were to trade below $170 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $5.60.
