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PPL Looks Ready to Start a Move Higher - Go Long on Strength

Bruce Kamich

In this daily bar chart of PPL below, we can see the wide swings in the stock in the fourth quarter of 2018 and the first quarter of 2019. The daily On-Balance-Volume (OBV) line has been in a relatively narrow range since November with a very narrow range the past six weeks or so. A narrow range and flat volume can sometimes precede a breakout as prices appear balanced and poised for their next move.