Bearish – DUK $89.26 – Utilities
The bearish DailyPlay we chose for Wednesday, May 8th is Duke Energy (DUK). DUK is part of the Utilities Sector (XLU). XLU has fallen 0.52% over the past month and its 1m and 6m trends turned neutral and bearish yesterday while bouncing lower off its $58.50 resistance level.
Duke Energy’s 1m and 6m trends turned bearish and neutral on March 6th while bouncing lower off its $90 resistance level. With a technical score of 7 (out of 10), DUK is a strong stock that is starting to turn lower.
As a stop loss, if DUK was to trade above $90 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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