Swing Trade Idea (WBA) 2-11-2021
Our bullish trade for Thursday, February 11th is Walgreens Boots Alliance Inc (WBA). WBA is part of the Staples Sector (XLP). XLP has experienced a 0.6% decline in the last month and its 1M trend turned bullish on Feb 8th.
WBA has recently pulled back to an area of support and bounced higher with strong momentum providing a good risk/reward for a long entry. With a technical score of 6 (out of 10), WBA is a neutral stock that will likely move higher.
As a stop loss, if WBA were to trade below $48 for multiple days, this would invalidate our analysis and focus on cutting losses on the trade. We also consider cutting losses on this options trade if the value of the vertical spread moves above $4.10.
