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.
OptionsPlay Platform Tools & Services – Thur 6/27 @ 4:15PM EST –Register Now
Track DailyPlay Positions
Track open DailyPlay trades with Live P&L on all positions in our Portfolio tool!