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  • Swing Trade Idea (TFC) – December 12, 2023

    Dec 12, 2023 Swing Options Tips Comments Off on Swing Trade Idea (TFC) – December 12, 2023

    Our bullish trade for Tuesday, December 12th is Truist Financial Corporation (TFC). TFC is part of the Financial Sector, which has performed at 8.41% over the last month, with TFC overperforming relative to its sector at 18.11% over the same period.

    TFC found support at around $30 from where it is bouncing higher. Both the 1M and 6M trends are bullish and it has a relative strength of 9 (out of 10). Confirming our bullish bias for this trade is that TFC has overperformed relative to its sector and that the next area of resistance is at $42.

    As a close, if TFC were to trade below $32.50 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We will also consider cutting losses on this options trade if the value of the vertical spread moves above $2.22.

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