PPL CorporationLong
PPL Corp Elliott Wave Analysis: Bull & Bear Options
Two Potential Scenarios for PPL
BULLISH OPTION
Since the 1974 low, price has been advancing in a leading diagonal, forming a higher-degree wave (1). The projected target for the 5th wave is the yellow 1.618 extension at $96.16. If this scenario unfolds, PPL will enter a multi-year bear market as wave (2) undergoes a corrective retracement. Following this, price is expected to resume its uptrend in an additional five-wave sequence, adhering to the principle: “What starts in five waves, ends in five waves.”
BEST-CASE BEARISH OPTION:
From the 1974 low, price has moved upward in a blue WXY correction, completing the higher-degree (A) wave, followed by a three-wave retracement in yellow, forming the higher-degree blue W wave. In the best-case bearish scenario, price advances for the higher-degree yellow C wave, reaching the yellow 1.382 extension within the Expanded B Pocket. This move would establish the higher-degree blue X wave before a subsequent capitulation into the higher-degree blue Y wave, completing the higher-degree (B) wave.
From this point, PPL is expected to resume an upward trajectory, unfolding in a five-wave sequence for the higher-degree (C) wave. The maximum price target for this structure is the yellow 2.236 extension at $129.28.
FINAL THOUGHTS
In the short term, price is expected to continue to the upside, whether it reaches the 1.382 extension of the Expanded B Pocket or the 1.618 extension 5th wave target of the potential leading diagonal for the higher-degree wave (1). Regardless of which scenario plays out, the current market structure leans bullish.
BULLISH OPTION
Since the 1974 low, price has been advancing in a leading diagonal, forming a higher-degree wave (1). The projected target for the 5th wave is the yellow 1.618 extension at $96.16. If this scenario unfolds, PPL will enter a multi-year bear market as wave (2) undergoes a corrective retracement. Following this, price is expected to resume its uptrend in an additional five-wave sequence, adhering to the principle: “What starts in five waves, ends in five waves.”
BEST-CASE BEARISH OPTION:
From the 1974 low, price has moved upward in a blue WXY correction, completing the higher-degree (A) wave, followed by a three-wave retracement in yellow, forming the higher-degree blue W wave. In the best-case bearish scenario, price advances for the higher-degree yellow C wave, reaching the yellow 1.382 extension within the Expanded B Pocket. This move would establish the higher-degree blue X wave before a subsequent capitulation into the higher-degree blue Y wave, completing the higher-degree (B) wave.
From this point, PPL is expected to resume an upward trajectory, unfolding in a five-wave sequence for the higher-degree (C) wave. The maximum price target for this structure is the yellow 2.236 extension at $129.28.
FINAL THOUGHTS
In the short term, price is expected to continue to the upside, whether it reaches the 1.382 extension of the Expanded B Pocket or the 1.618 extension 5th wave target of the potential leading diagonal for the higher-degree wave (1). Regardless of which scenario plays out, the current market structure leans bullish.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.