Pembina Pipeline (PPL-T, Monday’s close: $58.17) advanced from $38.79 in October 2023 to $60.72 in November 2024 (A–B), supported by a rising trendline (dotted) and its rising 40-week moving average (40WMA).
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Following this advance, the stock settled in a consolidation phase, trading largely within a horizontal range between $49 and $58 (dashed lines). The recent move above the upper boundary of this range signals a breakout and suggests the start of a new uptrend toward higher targets (C).
Trend indicators, including the rising 40WMA, continue to confirm a bullish outlook. The stock is currently undergoing a modest pullback toward its moving average, offering a potentially favourable entry point. Only a sustained decline below the 40WMA (currently near $54–55) would weaken this positive view.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart, courtesy of www.LSEG.com