The bearish DailyPlay we chose for Friday Oct 28th is PPL Corp (PPL). PPL is part of the Utilities Sector (XLU). Over the last month, XLU has experienced a 3.55% move lower and it’s 1m and 6m trend turned bearish and neutral on 9/29 and recently bounced lower off its $48.50 resistance level.
PPL Corp’s 1m and 6m trends turned bearish on 9/29 and is currently testing its $34 resistance level. With a technical score of 2 (out of 10), PPL looks positioned to continue this strong bearish trend lower.
As a stop loss, if PPL was to trade above $34 for multiple days, this would invalidate our analysis and suggest getting out of the trade.