This 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.
After 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.
As 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 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.
