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  • Swing Trade Idea – (MA) – November 13, 2020

    Nov 13, 2020 Swing Options Tips Comments Off on Swing Trade Idea – (MA) – November 13, 2020

    Our bearish trade for Friday, Nov 13th is MA (Mastercard). MA is part of the Technology Sector (XLK). XLK has experienced a 1.51% decline in the last month and its 1M and 6M trends turned bullish on Nov 5th.

    MA’s 6M trend turned neutral today and recently bounced off its $350 resistance level and will likely test its $325 minor support level. With a technical score of 4 (out of 10), MA is a weak stock that will likely continue lower. 

    As a stop loss, if MA were to trade above $350 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 $12.20.

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