The bearish DailyPlay we chose for Wednesday July 27th is PPL Corp (PPL). PPL is part of the Utilities Sector (XLU). Over the last month, XLU has experienced a 3.57% move higher and it’s 1m and 6m trend turned bullish on 5/27 but has recently failed to reach its previous high at its $52 resistance level.
PPL Corp’s 1m and 6m trends turned neutral on 7/22 and recently bounced lower off its $38 resistance level after gaping lower. With a technical score of 4 (out of 10), PPL looks positioned to continue this strong bearish trend lower.