PDN has continued to build its pennant pattern and did not break higher as hoped, however, having fallen to the lower boundary and bounced higher, confirms the pattern should be valid. Assuming price moves up as it has before and breaks out of the pattern the new target is $1.58

PDN 11Feb22

7 January 2022

PDN has made a pennant pattern where a break above the top boundary (blue dashed line) would suggest a target of $1.68. Price did move down a little last week and it may be that the pattern hasn't completed and may make another cycle of returning back to the lower boundary before rising again to (hopefully) break out. Good trade if it works.

PDN 7Jan2022

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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