Swing Trade Idea (V) – May 14, 2021
Our bullish trade for Friday, May 11th is Visa Inc (V). V is part of the Technology Sector (XLK). XLK has experienced a 5.6% decline in the last month as Technology stocks pulled back.
V’s 6M trend turned bullish on May 13th and has recently pulled back to an area of support providing a good bullish opportunity. With a technical score of 4 (out of 10), V is a weak stock that will likely continue higher.
As a stop loss, if V were to trade below $220 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $6.70.
