Swing Trade Idea – (TLT) – November 12, 2020
Our bullish trade for Thursday, Nov 12th is TLT (20+ Year Treasury Bond ETF). TLT is part of the Treasury Fixed Income sector.
TLT’s 1M trend turned bearish on Oct 2nd and has recently tested its bearish trendline while reaching oversold territory. With a technical score of 2 (out of 10), TLT is a very weak stock that is oversold and will likely bounce higher off its support levels.
As a stop loss, if TLT were to trade above $2.60 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider taking profits on this options trade if the value of the vertical spread moves below $0.60.
