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This Leading Consumer Goods Stock Is On My Radar

Leading consumer goods stock, Unilever PLC (UL), has been pulling back recently. The stock traded as high as $58.21 a share on June 19, 2020. Today, the stock is trading around $54.65 a share. Unilever stock is also trading below it’s important 200-day moving average. Traders and investors should note that the stock has a very important gap fill window around the $52.00 level. This gap comes from May 27, 2020 when the stock reversed sharply higher after a gap lower open. Generally, when a stock backtests a strong reversal level it will be defended by the institutional crowd. This is a level where I would likely participate in a long side trade in Unilever shares.

The upside target for Unilever shares would be around the $60.00 level. This resistance area is where the stock has another gap from February 21, 2020. This gap window should serve as very good resistance when reached.

Watch this video to see why Nick sold his options position in LVS. This was just one of the trades which have added up to the net gain he has earned of over 900% in profits already this year. But don’t take our word for it, look at every single trade yourself right here