Swing Trade Ideas (DUK) – March 30, 2021
Our bullish trade for Tuesday, March 30th is Duke Energy Corp (DUK). DUK is part of the Utilities Sector (XLU). XLU has experienced a 9.9% gain in the last month as utilities continue to gain momentum.
DUK’s 1M and 6M trend turned bullish on March 8th and recently broke above its $94 resistance level. With a technical score of 6 (out of 10), DUK is a neutral stock that will likely move higher.
As a stop loss, if DUK were to trade below $94.00 for multiple days, this would invalidate our analysis and we would 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 $3.70.
