Possible Bearish Inside Day Candle Pattern Detected for PPL (NYSE:PPL)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in PPL (NYSE:PPL) based on the price action in the company's shares. Today's price range of $37.42 and $37.69 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of PPL may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
PPL Corporation is an energy and utility holding company. The Company, through its subsidiaries, generates electricity from power plants in the northeastern and western United States, and markets wholesale and retail energy primarily in the northeastern and western portions of the United States, and delivers electricity in Pennsylvania and the United Kingdom.
Over the past year, PPL has traded in a range of $29.18 to $39.92 and is now at $37.42, 28% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.4%.
PPL (NYSE:PPL) defies analysts with a current price ($37.42) 3.8% above its average consensus price target of $36.00. The stock should find initial support at its 50-day moving average (MA) of $36.95 and further support at its 200-day MA of $34.17.
SmarTrend is tracking the current trend status for PPL and will alert subscribers who have PPL in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish inside day candle