PBX bullish falling broadening wedge TARGET
PBX has been setting up a falling broadening wedge over the last few weeks. This is normally a reversal pattern meaning I would expect it to break the upper downward sloping trendline in the coming days, heading towards its target in the 0.0032 to 0.0035 range. Notably there is also a 1.618 extension target at about 0.0039. PBX seems to have found support at its 50 day Moving average which has sent it heading back toward the upper trendline of the falling wedge. Let’s look out for interaction with that trendline over the next few days and see what plays out.
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