Rebound Insight
Our Pivot: 169.00
Our Preference: Buy above 180 and average it out till 176.50 with strict stop loss of 169.00 and profit target at 204.00 and 208.80.
Alternate Scenario: Downward penetration of 169.00 would call for 155.00.
NOTE: PPL is trying to penetrate a weekly triangle in bullish direction and right now its supported by a rising trend line along with horizontal supportive region. Weekly stochastic have created a bullish crossover which would push it in bullish direction.
Weekly chart with supports and resistances:
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