PPL breaks key support level
PPL Corp. (PPL) Technical Analysis Report for Sep 14, 2018
PPL finished the week 1.38% higher at 30.16 after losing $0.11 (-0.36%) today on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Friday's trading range was $0.36 (1.19%), that's below last trading month's daily average range of $0.43. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 29.86 and 30.37 which it has been in now for the last trading week.
Breaking below the key support level at 30.21 today, it is now likely to act as resistance going forward. The stock was bought again around 29.96 after having seen lows at 29.93, 29.99 and 29.94 in the last three trading sessions. Obviously there is something going on at that level.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 30.37 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 29.93 where further sell stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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