PPL Corporation stock upgraded to Buy Candidate.
(Updated on Dec 01, 2023)
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The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $27.16 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.55% during the next 3 months and, with a 90% probability hold a price between $25.26 and $28.94 at the end of this 3-month period.
PPL Signals & Forecast
The PPL Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $26.26 and $25.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 02, 2023, and so far it has risen 17.43%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PPL Corporation stock
PPL Corporation finds support from accumulated volume at $25.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.505 between high and low, or 1.94%. For the last week the stock has had daily average volatility of 1.44%.
Our recommended stop-loss: $25.66 (-3.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 43 days ago.)
Trading Expectations (PPL) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect PPL Corporation to open at $26.33, and during the day (based on 14 day Average True Range), to move between $26.05 and $26.91, which gives a possible trading interval of +/-$0.430 (+/-1.62%) up or down from last closing price. If PPL Corporation takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $25.93, some $0.550 (2.08%) from the current price of $26.48, our system finds the risk reward attractive.
Is PPL Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PPL Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.369 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for PPL Corporation of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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