Rockwell Automation – Automotive Headwinds – June 18th, 2019

Bearish – BURL $38.86 – Industrial

The bearish DailyPlay we chose for Tuesday, June 18th is Rockwell Automation (ROK). ROK is part of the Industrial Sector (XRI). XRI has declined 0.67% lower over the past month and its 1m and 6m trend turned neutral yesterday and bounced lower off its $76 resistance level.

Rockwell Automation’s 1m and 6m trend turned bearish yesterday and bounced lower off its $160 resistance level. With a technical score of 4 (out of 10), ROK is a weak stock that will likely continue lower.

As a stop loss, if ROK was to trade above $160 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View ROK Trade

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