PPL Technical Analysis:
PPL faced rejection at the 193 level on August 8th and has been trending downward since. The stock found initial support around 176 but is currently consolidating in the 178-183 range, showing limited buying strength.
Key Levels to Watch:
Primary Support Zone: 170-173 - This is the critical level where we expect the next major support test
Secondary Support: 160-165 - If the primary support fails to hold, the stock could decline further to this range
Trading Strategy:
Wait for price action around the 170-173 support zone before taking any positions. Confirmation of support at this level is essential. A failure to sustain above 170-173 could trigger further downside movement toward 160-165.
Technical Indicators:
RSI currently at 53, with expectations of a decline to 48 where it may find support
Overall momentum remains bearish until proven otherwise
Risk Management:
Monitor the 170-173 level closely for support confirmation. Any breakdown below this zone with volume would validate the bearish outlook toward lower targets.
PPL faced rejection at the 193 level on August 8th and has been trending downward since. The stock found initial support around 176 but is currently consolidating in the 178-183 range, showing limited buying strength.
Key Levels to Watch:
Primary Support Zone: 170-173 - This is the critical level where we expect the next major support test
Secondary Support: 160-165 - If the primary support fails to hold, the stock could decline further to this range
Trading Strategy:
Wait for price action around the 170-173 support zone before taking any positions. Confirmation of support at this level is essential. A failure to sustain above 170-173 could trigger further downside movement toward 160-165.
Technical Indicators:
RSI currently at 53, with expectations of a decline to 48 where it may find support
Overall momentum remains bearish until proven otherwise
Risk Management:
Monitor the 170-173 level closely for support confirmation. Any breakdown below this zone with volume would validate the bearish outlook toward lower targets.
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