PPL (PPL-N) traded in a large horizontal range mostly between $24 and $31 for about five years (dashed lines). The stock had a breakout from this range in November 2024 (A), pulled back to support at the 40-week Moving Average (40wMA – B), rallied higher earlier this month (C) and most recently pulled back once again to the average (D). PPL now appears ready to resume the uptrend; a sustained rise above ±$36 would confirm it.
Behaviour indicators including the rising 40wMA and the rising trendline (solid line) confirm the bullish status. Only a sustained decline below $33 would be negative.
Point & Figure measurements provide targets of $38 and $42. The large trading range (dashed lines) supports higher targets.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com