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  • Swing Trade Idea – (EA) – August 04, 2020

    Aug 04, 2020 Swing Options Tips Comments Off on Swing Trade Idea – (EA) – August 04, 2020

    Our bullish trade for Tuesday, August 4th is Electronic Arts Inc (EA). EA is part of the Communication Services Sector (XLC). XLC has experienced a 5.4% gain in the last month and its 1M and trend turned bullish on July 29th.

    EA’s 1M trend turned bullish on July 30th and its 6M trend has been bullish since April 4th. Price has recently pulled back and bounced higher with strong momentum indicating more upside is expected. With a technical score of 10 (out of 10), EA is a very strong stock that will likely move higher. 

    As a stop loss, if EA were to trade below $132.00 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 $6.74.

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