The bearish DailyPlay we chose for Wednesday, Feb 21st is Rockwell Automation (ROK). ROK is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 3.99% move lower and its 1m and 6m trend has turned bearish yesterday and recently bounced lower off its $78 resistance level.
Rockwell Automation’s 1m and 6m trends turned bearish on 2/2 and recently broke below its $190 support level which now becomes resistance. With a technical score of 6 (out of 10), ROK is a neutral stock that is trending lower.
As a stop loss, if ROK was to trade above $190 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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