• Swing Trade Idea (STX) – December 13, 2021

    Our bullish trade for Wednesday, December 13th is Seagate Technology Holdings (STX). STX is part of the Technology sector that increased by 0.7% over the last month and is expected to continue this trend.

    STX recently broke above the $100 resistance turned support level and bounced higher on the retest which provides a good risk/reward bullish entry. Both 1M and 6M trends are bullish and with a technical score of 9 (out of 10), STX is a very strong stock that will likely move higher.

    As a close, if STX were to trade below $98 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $7.30.

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