PBT trade ideas
Breakout!Oh a horrible trading day, this pushed up 17% and had high volume breaking out of a consolidation box.
My next target is $20
Breaking out of our consolidation? PT ~20This has been bouncing around this box for a while and it may be ready to break out. I'd expect to see volume above the moving average and I'm setting my price target at ~20 (near the 1.618 Fibonacci level).
Which gives us a $6 upside.
Coming out of 62 days of consolidationAfter watching the swings on this stock for the past 62 days - I'm hopeful that this next upward swing will be what it takes to break up and out beyond the $14.30 resistance level. When it does, I'm looking for this to reach $18-21/share.
PTs are ~15. ~17 and then ~21/share.
PBT: Box on BoxPBT has this clear cut pattern of a box base with a single shakeout with beautiful recovery on volume. Can it give us a 5th push to the upside?
Bullish moveBreak out on volume
market buy $8.65
Stops 7%
Target 20%
This is not financial advice please use proper risk management
Bullish movePossible long opportunity
entry $9
Risk 5-7%
Reward 15-20%
This is not financial advice. Please use proper risk management.
$PBT Undervalued Growth + DividendAs you can see from the WTI chart, $PBT (Permian Basin Trust) has much catching up to do. It has been suppressed due to new well construction and CAPEX. Look for explosive price action in the next couple of months. July should see a modest bump in dividend price which will start the action.
PBT LongPBT is setting up for a great 2021, with Oil on the rise and no signs of stopping. Goldman Sachs predicting $80 and then doubling down. This is a great play for growth. Looking to swing this into winter.
