Bearish DailyPlay for Wednesday Feb 21st, 2018 – Rockwell Automation (ROK)
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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