I had a recent piece about PPL Electric Utilities (Why Has PPL Corp. Fallen On Hard Times?) and I wanted to revisit the topic given that we are about a month beyond the posting of the opinion and see if anything much has changed for the stock. Should we dump PPL for greener pastures or is the time right for entry? I don't intend to take a deep dive into PPL at this point, given that I don't feel any truly fundamental aspects about the stock have changed, but I'd like to take a look at the recent price action and re-establish the value aspect of the investment play in PPL.

Recent Price Movement in PPL

I stated in my previous post that a movement below $28.00 would signify an 'extremely bearish' movement in the stock, and as it turned out this occurred very shortly after my article. At the time I wrote the article PPL had been trading in the mid-$29.00 range and had recently come out of the $30.00 + range only a month before. In the 6-months previous PPL had moved a full 34% lower and so seemed to be near an inflection to the positive. PPL subsequently moved beneath $28.00 per share on March 2 and rebounded a bit during March 5 and 6th moving only slightly above $28.00 per share. Since that time PPL has stayed below the $28.00 mark for the entire period with the exception of a brief time above $28.00 during March 16th and March 19th. As I write this article PPL is trading at $27.41 and has traded as low as $27.12 in the last 30 days.

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