Promising Signs: PPL CORP (NYSE:PPL) Setting the Stage for a Breakout.

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.

Technical Analysis Observations

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.

We assign a technical rating of 10 out of 10 to PPL. 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 87% of all other stocks. On top of that, PPL also shows a nice and consistent pattern of rising prices.
• PPL is one of the better performing stocks in the Electric Utilities industry, it outperforms 78% of 47 stocks in the same industry.
• A new 52 week high is currently being made by PPL, which is a very good signal! Especially since the S&P500 is only trading in the upper part of its 52 week range, so PPL is leading the market.
• In the last month PPL has a been trading in the 33.26 - 35.28 range, which is quite wide. It is currently trading near the high of this range.

Check the latest full technical report of PPL for a complete technical analysis.

Looking at the Setup

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:PPL is 9:

Besides having an excellent technical rating, PPL also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 35.22. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 35.00, 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.

Trading setups like NYSE:PPL

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.