Hamilton's E-Wave Analysis

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!

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 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=C 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 RSI and MACD have dropped sharply. A stop at $21 could limit the damage.