The bearish DailyPlay we chose for Friday Jan 10th is Public Service (PEG). PEG is part of the Utilites Sector (XLU). Over the last month, XLU has experienced a 8.87% move lower and its 1m and 6m trend has turned bearish on 12/19 while breaking below its $55 support level.
Public Service’s 1m and 6m trends turned bearish and neutral on 1/2 and recently bounced lower off its $51 resistance level. With a technical score of 6 (out of 10), PEG is a neutral stock that is trending bearish.
As a stop loss, if PEG was to trade above $51 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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