Are you seeing National Day promotions everywhere you go?
August is here!
Red and white outfits are on sale in almost every apparel shop.
Are you among the few lucky people to have received tickets to watch the National Day Parade live?
I had the chance to watch one of its previews last year with my family. We enjoyed singing National Day songs, reviewing Singapore’s history, and the parades.
You might enjoy yourself as much as I did.
Switching to the US stock market, the color theme for last week was red.
This could continue for a while, so you’ll want to take more defensive measures by reducing your trading size, being more stringent on the stocks to trade, and taking profit.
As always, shall we review last week’s stock pick: AbbVie (ABBV)?
Review Of Last Week’s Pick Of The Week
AbbVie (ABBV) was our #PowerStocks pick last week.
Being in the healthcare sector, it’s viewed as a defensive stock.
And its time to shine has come.
After a pullback to ~$180, its share price has shot up to around $195, as shared in our Telegram Channel.
If you’d bought the shares of AbbVie and followed the trade plan, you would have made a cool 5.4% while most stocks fell.
Due to weaker job numbers, fear of a recession is back in the minds of the market participants. This sent many bank and cyclical stocks lower.
So, what’s this week’s swing trading opportunity?
Let’s go on a journey together.
Why Is Swing Trading PPL (PPL) Worth It?
Source: investors.pplweb.com
PPL is a 100-year-old utilities company that generates, transmits, and distributes electricity.
After a correction, PPL’s share price has been rising fanatically since early July 2024.
This strong rally has brought a return of 2x that of the S&P 500!
I sense a pullback ahead, signaling that an explosive swing trading opportunity could be near.
What’s the game plan?
Continue reading to get the details.
P.S. What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short amount of time?
My team and I have worked tirelessly to help you achieve results fast.
Click on the banner below to claim your stock course for free (limited time) now!
Performance Of US Stock Market vs PPL (PPL)
There are 2 pieces of critical information you can get from the comparison chart above.
The 1st is the price trend of PPL’s shares.
Since early July, PPL’s share price has been on a remarkable uptrend.
This is on the back of a correction that the S&P is going through.
Here’s the 2nd piece of crucial information you need to know.
Have PPL’s shares outperformed the S&P 500?
PPL’s shares propelled upwards, beating the performance of the S&P 500 by nearly 2x as a result!
With the share price of PPL in an uptrend, and its shares outperforming the stock market, PPL looks to be the perfect candidate for an explosive swing trade.
Not so fast!
PPL sure deserves another round of analysis.
How Explosive Is PPL (PPL)?
To ensure that your trading capital will be working hard for you, shall we analyze the ability of PPL’s shares to explode quickly?
Though PPL enjoys a huge market capitalization of over $22b and belongs to the defensive sector of Utilities, its shares tend to explode in price, measuring between 4.1% and 8.8%!
Here’s something that blows my mind – while many stocks are retreating, the share price of PPL continues to rise.
I know that you are eager to buy its shares for a swing trade.
But you aren’t done with analyzing its shares yet!
Let’s discover whether the time to buy its shares is here.
Key Price Levels
To know when it is time to buy the shares of PPL for a swing trade, let’s uncover its key price levels.
Key price levels are also known as support and resistance because prices tend to turn at those price areas.
Did you identify a support area around $29.35?
There’s a high possibility of PPL’s share price pullback to ~$29.35 before rising.
That’d present a fantastic opportunity to buy its shares for an explosive swing trade!
I have my eyes set on this stock.
What about you?
Lastly, here’s a pro tip: Instead of staring at your screen, you may want to set a price alert on your broker’s platform to be notified so that you can spend precious time with your loved ones.
Finally, this is for educational purposes. Please perform your due diligence.
All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.
Claim Your Free (Limited Time) Stock Course Right Now:
The stock market is full of traps laid out by professional traders.
Many new traders are often left confused by conflicting signs and signals.
Worse still, ~80% of traders lose money.
This is because trading isn’t just about skill alone.
It includes the mastery of your emotions.
But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market?
My team and I have worked tirelessly to help you achieve results fast.
Click on the banner below to claim your stock course for free (limited time) now!
