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  • Swing Trade Idea – (BX) – July 30, 2020

    Jul 30, 2020 Swing Options Tips Comments Off on Swing Trade Idea – (BX) – July 30, 2020

    Our bullish trade for Thursday, July 30th is Blackstone Group Inc (BX). BX is part of the Financials Sector (XLF). XLF has experienced a 7.14% gain in the last month and its 6M and trend turned bullish on July 29th.

    BX’s 1M trend turned bearish on July 27th after pulling back to an area of support and forming an inverted head and shoulders pattern. With a technical score of 5 (out of 10), BX is a neutral stock that will likely move higher. 

    As a stop loss, if BX were to trade below $52.00 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 $3.52.

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