PPL , Pembina

Here is another pipeline/energy infrastructure type of company that has done well and is comparable in certain ways to and the others. This one is fairly clear!

ppl2 ppl

On the Bigchart on the left a very clear 5 wave move up can be seen, even if it is not equally clear where wave 3 ended, but that does not change the analysis, fortunately. When 5 waves are complete in a single sequence the stock typically drops back to the level of the low point in wave 4, in this case $12. However, looking at the detailed chart it is possible to count this as a 5-wave sequence, as in a fifth wave, or as an A=B= in a large B-wave. Either way the stock could have one more (small) move up if a triangle has been forming over the last 4 months. Keep in mind that the stock has already exceeded the upper parallel line and both the and MACD have dropped sharply. A stop at $21 could limit the damage.