Bearish DailyPlay for Friday Oct 28th, 2016 – PPL Corp (PPL)
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.