Swing Trade Idea (SCHW) – January 31, 2023
Our bullish trade for Tuesday, January 31st is The Charles Schwab Corporation (SCHW). SCHW is part of the Financial Sector, which has performed at 0.87% over the last week.
SCHW recently dipped towards $74, which is right at an uptrend level, from where we expect to see some upside. On both previous occasions, SCHW had a strong bounce higher from this uptrend level.
As a close, if SCHW were to trade below $74 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We also will consider cutting losses on this options trade if the value of the vertical spread moves above $5.52.
