The bearish DailyPlay we chose for Tuesday, June 19th is Rockwell Automation (ROK). ROK is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 0.10% move lower and its 1m trend turned bearish yesterday while bouncing lower off its $76 resistance level.
Rockwell Automation’s 1m and 6m trends turned bearish yesterday and recently bounced lower off its $180 resistance level. With a technical score of 3 (out of 10), ROK is a weak stock that will likely trend lower.
As a stop loss, if ROK was to trade above $180 for multiple days, this would invalidate our analysis and suggest getting out of the trade.