The PEP daily chart is forming a symmetrical triangle, a classic consolidation pattern that often leads to a strong breakout. Price has been bouncing between the upper and lower trendlines and is now positioned around the middle of the structure.
Bullish Scenario
If the price breaks above the upper trendline around $150–$152, a bullish continuation is likely.
Bullish Targets:
• Target 1: $160
• Target 2: $168
• Target 3: Up to $175 if momentum is strong
Bearish Scenario
Breaking below the lower triangle boundary (~$142) could trigger a deeper decline.
Bearish Targets:
• Target 1: $136
• Target 2: $130
Stop Loss
• For long positions: Below $142
• For short positions: Above $152
Bullish Scenario
If the price breaks above the upper trendline around $150–$152, a bullish continuation is likely.
Bullish Targets:
• Target 1: $160
• Target 2: $168
• Target 3: Up to $175 if momentum is strong
Bearish Scenario
Breaking below the lower triangle boundary (~$142) could trigger a deeper decline.
Bearish Targets:
• Target 1: $136
• Target 2: $130
Stop Loss
• For long positions: Below $142
• For short positions: Above $152
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.