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PPL Corporation’s Chart Indicators, Valuation, and Price Targets

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Part 2
PPL Corporation’s Chart Indicators, Valuation, and Price Targets PART 2 OF 6

What Do PPL’s Chart Indicators and Short Interest Hint?

Chart indicators

Currently, PPL Corporation (PPL) stock looks strong. It’s trading 3% and 6% above its 50-day and 200-day moving averages, respectively. The fair premium to both the moving average levels highlights strength in the stock. Also, the stock’s 50-day moving average crossing above its 200-day moving average can be considered as a bullish sign. Its 50-day moving average level around $36.15 might act as a support in the short term.

Moving averages show that when a stock rises above a particular moving average, it’s a bullish sign. When it falls below that average, it’s bearish.

What Do PPL’s Chart Indicators and Short Interest Hint?

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Relative strength index

PPL’s RSI (relative strength index) is at 47. The RSI is a momentum indicator made up of values between 0 and 100. Movements below 30 are considered to be in the “oversold” zone, while movements above 70 are considered to be in the “overbought” zone. Stock entering the overbought zone can indicate an imminent reversal in the short term.

Short interest

Short interest in PPL fell 0.6% marginally on March 15, 2017. Total shorted shares in the company were 10.78 million on February 28, 2017. They fell to 10.71 million by mid-March 2017.

Short interest indicates the number of a company’s shares that have been sold short and haven’t been covered. A fall in short interest can mean that fewer investors expect the stock to fall in the near-term from its current levels. The number also helps track investor sentiment.

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