PPL Technical Analysis

PPL Technical Analysis:
PPL faced rejection at the 193 level on August 8th and has been trending downward since. The stock found initial support around 176 but is currently consolidating in the 178-183 range, showing limited buying strength.
Key Levels to Watch:

Primary Support Zone: 170-173 - This is the critical level where we expect the next major support test
Secondary Support: 160-165 - If the primary support fails to hold, the stock could decline further to this range

Trading Strategy:
Wait for price action around the 170-173 support zone before taking any positions. Confirmation of support at this level is essential. A failure to sustain above 170-173 could trigger further downside movement toward 160-165.
Technical Indicators:

RSI currently at 53, with expectations of a decline to 48 where it may find support
Overall momentum remains bearish until proven otherwise

Risk Management:
Monitor the 170-173 level closely for support confirmation. Any breakdown below this zone with volume would validate the bearish outlook toward lower targets.