Piedmont Office Realty Trust Inc (PMD)PMD has recently shown a strong rebound after retesting the broken downward channel near $6.38, which pushed the stock to break above the resistance level at $7.07 last week. Sustained trading above this level would confirm a potential trend reversal to the uptrend!, paving the way for further gains toward the $7.56 – $7.68 range, followed by $8.25 and $8.96 in the short term.
The stop loss is below the last higher bottom at $ 6.38.
Technical indicators, particularly the MACD, are trending positively and support the bullish outlook, adding further confidence to the upward scenario.
Disclaimer: This analysis is for informational purposes only and does not constitute financial, investment, or commercial advice or recommendations.
