PPL CORP (NYSE:PPL) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

Our stock screener has identified PPL CORP (NYSE:PPL) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:PPL.

Insights from Technical Analysis

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall PPL gets a technical rating of 10 out of 10. Both in the recent history as in the last year, PPL has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, PPL did better than 84% of all other stocks. We also observe that the gains produced by PPL over the past year are nicely spread over this period.
• PPL is part of the Electric Utilities industry. There are 46 other stocks in this industry. PPL outperforms 84% of them.
• PPL is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month PPL has a been trading in a tight range between 31.30 and 33.02.

For an up to date full technical analysis you can check the technical report of PPL

Why is NYSE:PPL a setup?

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:PPL exhibits a 10 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, PPL also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 32.61. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 32.47, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for PPL in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:PPL be traded?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Of course, there are many ways to trade or not trade NYSE:PPL and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.