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Swing Trade Idea (CCI) – January 13, 2022

Our bullish trade for Thursday, January 13th is Crown Castle International Corp (CCI). CCI is part of the Real Estate sector that has recently found support at a key level after it performed at 7.66% over the last quarter.

CCI recently found support at $189 resistance turned support level, which provides a good risk/reward bullish entry. The 6M trend is Neutral but expected to turn Bullish once the price starts to move higher. 

As a close, if CCI were to trade below $185 for multiple days, this would invalidate our analysis and focus cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $7.50.