What Makes This A High Probability Trade? Find Out Now

As the market looks to be pretty bullish, confirming our bullish expectation from the beginning of the week, the Technology sector is in the front of the pack. This aligns nicely with our trade of the day. When the market looks to be a in a bullish mood, a good place to start look for opportunities to go long tends pretty often to be this sector.

As investors begin to again adopt somewhat of a “risk-off” mindset, recovering from the financial scare from a couple weeks ago, they almost inevitably pile back in to tech stocks. This is good for our setup today, let’s take a look at what we are seeing.

Intel (INTC) has been forming forming a very important resistance level at $31, the stock broke out above that mark on Wednesday. If this is a true break of this resistance, the highest probability trade, in my personal opinion, would be to wait for a break of this level and then a retest of this level. Overall, higher prices should be coming, however, oftentimes when these levels are broken, they then become support.

For more on the trade and why it’s our trade of the day, watch my video breakdown below!

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