Thursday September 9, 2021

The bullish DailyPlay for Thursday, September 9th is Fidelity National Information Services Inc (FIS). FIS is part of the Technology sector which has experienced a 2.9% rally in the last month.  

Technical View

• Bullish engulfing candles on both daily and weekly timeframes indicate a possible reversal
• Price has declined to a strong area of weekly support and bouncing higher.
• Mean reversion – price has significantly deviated from the 200 D MA to the downside and an upside correction in the range can be expected

Fundamental View

• Merger with WP allows for revenue growth and cost synergies
• FIS offers secular exposure to banking as well as cyclical exposure with emphasis on consumers
• Earnings: Oct 28 (49 Days)

As this is a Debit Spread, look to take profits at 75%-100% and cut losses at 50%:

• Take Profit: $8.36 – $9.56
• Stop Loss: $2.39

View FIS Trade