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Possible Bearish Inside Day Candle Pattern Detected for Ppl Corp (NYSE:PPL)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ppl Corp (NYSE:PPL) based on the price action in the company's shares. Yesterday's price range of $24.60 and $25.13 is within the prior day'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 Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 22.2% exists for Ppl Corp, based on a current level of $25.81 and analysts' average consensus price target of $31.55. The stock should run into initial resistance at its 50-day moving average (MA) of $29.90 and subsequent resistance at its 200-day MA of $31.71.

Ppl Corp share prices have moved between a 52-week high of $36.83 and a 52-week low of $18.12 and closed yesterday at 42% above that low price at $25.81 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 2.3%.

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.

SmarTrend is monitoring the recent change of momentum in Ppl Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ppl Corp in search of a potential trend change.

Keywords: bearish am inside day candle ppl corp

Ticker(s): PPL