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Swing Trade Idea – (SLV) – August 13, 2020

Our bullish trade for Thursday, August 13th is SLV (iShares Silver Trust). SLV has experienced a 30.3% gain in the last month and its 1M and 6M trends are both bullish.

SLV has recently pulled back after a strong rally providing an ideal put credit spread opportunity. With a technical score of 10 (out of 10), SLV is a very strong ETF that will likely continue higher.

As a stop loss, if SLV were to trade below $21 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 $2.52.