NI - Turn up the lights
Updated
NI is a stock in the utility sector which has been one of the strongest sectors of the year. The stock has been following a slightly bullish channel since mid-April & seems to be bouncing off support again. Just keep trading the channel until it escapes higher or lower.
Comment
Stock broke down in today's trading which would have given an opportunity to enter a short trade. I would be looking for a target of $26.70 which is near the 61.8% Fibonacci Extension level.The stock is still oversold so I don't know if I would hold this as anything more than a bearish daytrade or short-term bearish swing trade.
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