The bearish DailyPlay we chose for Thursday September 8th is NiSource (NI). NI is part of the Utilties Sector (XLU). Over the last month, XLU has experienced a 1.05% move lower and it’s 1m and 6m trend turned neutral yesterday while bouncing lower off its $50.50 resistance level.
NiSource’s 1m and 6m trends turned bearish and netural on 8/5 and recently broke below its $25 support level. With a technical score of 3 (out of 10), NI looks positioned to continue this strong bearish trend lower.