The bearish DailyPlay we chose for Thursday Feb 16th is Helmerich & Payne (HP). HP is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 1.96% move lower and its 1m and 6m trend has bearish and neutral today while bouncing lower off its $74 resistance level.
Helmerich & Payne’s 1m and 6m trends turned bearish today while bouncing lower off its $72 resistance level. With a technical score of 5 (out of 10), HP is a strong bearish stock that looks to continue lower.
As a stop loss, if HP was to trade above $72 for multiple days, this would invalidate our analysis and suggest getting out of the trade.