PPL has been trending down and has reached an RSI of 16.4 today. The target price is $37.73 which would mean an upside of 20+%. Elder bulls angling up while price has been dropping. This has been popping up on scans for Oversold stocks for a while now. It has held a price of $37 for quite some time. It is likely to return.
NYSE:PPL
After running some scans, I came across this particular stock. PPL is sitting on a nice support level at the moment, and could easily start appreciating starting at this point.
Observing past price action, we can see that there is a good chance that we see price auction back up to $40. Jump in and make some money. If price continues to drive farther...
AN INTRADAY (1HOUR TIME FRAME) HIGH POTENTIAL, BACK TESTED SORT ANALYSIS.
1) TWO TOPS DIVERGED TO ROC OSCILLATOR FOR BEARISH MOVEMENT. ROC BREAKING THE 0.5000 LEVEL.
2) POTENTIAL TRENDLINE & EMA BREAKOUT.
3) HIGH SECONDARY TAKE PROFIT POTENTIAL IF DONE AT 39.46
DETAILS ON THE CHART
DISCLAIMER: THIS IS A TECHNICAL ANALYSIS STUDY, NOT AN ADVICE OR RECOMMENDATION...
Price has already broken the long term upward trend line. I am currently waiting for a break of the neck line trend line to initiate a short with a target of 35.
I will initiate a 1 in the money and 1 out of the money put debit spread
WATCH for possible breakout above 34.68, no resistance in area just above.
Type: True breakout from triple resistance.
Target: 36.31, 6.6% Stop: 33.59 Loss: 1.4% P/L ratio: 4.7 : 1 - Excellent
