In going through the many trade ideas on the site today, I came across PBI in the Active Long Trades category. This trade was last updated on Sept. 14th when it had hit T2 for a 13.3% gain. At that point, I had suggested booking profits or raising stops as a pullback or consolidation was likely.
Since that point, the stock pullback back past the former first target level and well beyond and reasonable stop level but I had taken this stock off my radar (I sold my position at T2) and was remiss in removing it from the Active Trades category until today. PBI will be considered stopped out and moved to the Completed Trades category but I am also considering adding it back as a new trade idea very soon, depending on the price action broad market.
PBI is still offering a very nice dividend yield (although dividends, especially those of high yielding stocks can be cut at anytime) but more importantly, the stock had fallen back to that large bullish falling wedge pattern on the weekly time frame, which has positive divergences in place to boot. Here’s the updated daily & weekly charts on PBI for those looking for long-side trade or investment ideas. I am adding PBI back as a trade setup with an entry TBD and I will update the charts if & when I decide to add it back as an official trade idea.
