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In-Depth Technical Analysis of PPL CORP.

By Mill Chart

Last update: Dec 28, 2023

Our stock screener has detected a potential breakout setup on PPL CORP (NYSE:PPL). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:PPL.

PPL Daily chart on 2023-12-28

Technical analysis of NYSE:PPL

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, PPL scores 7 out of 10 in our technical rating. Although PPL is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.

  • The long and short term trends are both positive. This is looking good!
  • PPL is part of the Electric Utilities industry. There are 44 other stocks in this industry, PPL did better than 53% of them.
  • PPL is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so PPL is lagging the market.
  • In the last month PPL has a been trading in the 25.76 - 27.69 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of PPL contains the most current technical analsysis.

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 8 setup rating, indicating its consolidation status in recent days and weeks.

PPL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 26.93, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:PPL

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.

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PPL CORP

NYSE:PPL (5/29/2024, 7:24:38 PM)

After market: 28.19 0 (0%)

28.19

-0.38 (-1.33%)

PPL News

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/PRNewswire/ -- PPL Corporation (NYSE: PPL) declared a quarterly common stock dividend on Wednesday, May 15, 2024, of $0.2575 per share, payable July 1, 2024,...

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/PRNewswire/ -- Rhode Island Energy, a subsidiary of PPL Corporation (NYSE: PPL), has announced it reached an agreement on new five-year contracts with the...

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/PRNewswire/ -- PPL Corporation (NYSE: PPL) today announced first-quarter 2024 reported earnings (GAAP) of $307 million, or $0.42 per share, compared with...

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/PRNewswire/ -- Landis+Gyr (SIX: LAND) and Rhode Island Energy have agreed to a contract to deploy and support advanced smart metering technology for 530,000...

News Image3 months ago - PPL CorporationPPL Corporation names Greg Cornett president of Rhode Island Energy

/PRNewswire/ -- PPL Corporation (NYSE: PPL) today announced 25-year utility industry veteran Greg Cornett has been named president of Rhode Island Energy (RIE)....

News Image3 months ago - Seeking AlphaPPL raises dividend by 7.3% to $0.2575 (NYSE:PPL)

PPL (PPL) declares $0.2575/share quarterly dividend, 7.3% increase from prior dividend of $0.2400. Forward yield 3.89% Payable April 1; for shareholders of reco

News Image3 months ago - Seeking AlphaPPL Non-GAAP EPS of $0.40 beats by $0.02, revenue of $2.03B beats by $130M (NYSE:PPL)

PPL Corporation reports strong Q4 earnings, exceeding expectations with a non-GAAP EPS of $0.40 and revenue of $2.03B.

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