PDBC Harmonics: ABCD and Butterfly Pattern
PDBC is an Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is an exchange-traded fund that mostly invests in broad market commodities. The fund holds a diverse basket of commodity futures and aims to mitigate negative roll yield in its contract selection. The fund is structured as an ETF and is actively managed.
In this idea, there is an abcd pattern in confluence with a butterfly pattern. The potential range of the abcd pattern contains the bat pattern price points. I'd begin buying at 9.75, expecting a reversal by 8.09.
PDBC has a strong quantitative score around 7 - 8 with analyst ratings of strong buy and hold. The dividend is awesome at 13.51% yield/per year (I'd expect to hold this position for about a year). I would buy PDBC long from the potential reversal zone, beginning at 9.75, and incrementally buying at key levels, then hold until take profits. I think, price will reverse right around 8.09 price point. If one bought with this strategy, their average would be somewhere around 8.92. I would sell half at 0.382 retracement and the other half at 0.618 retracement. Gains are approximately 43.4% - 77.6% at take profit targets. Cumulatively, adding dividend to gains, that's approximately 56.9% - 91.1%. Averaging those totals gives us approximately a 74% gain on this trade.
Good luck and trade safely!
In this idea, there is an abcd pattern in confluence with a butterfly pattern. The potential range of the abcd pattern contains the bat pattern price points. I'd begin buying at 9.75, expecting a reversal by 8.09.
PDBC has a strong quantitative score around 7 - 8 with analyst ratings of strong buy and hold. The dividend is awesome at 13.51% yield/per year (I'd expect to hold this position for about a year). I would buy PDBC long from the potential reversal zone, beginning at 9.75, and incrementally buying at key levels, then hold until take profits. I think, price will reverse right around 8.09 price point. If one bought with this strategy, their average would be somewhere around 8.92. I would sell half at 0.382 retracement and the other half at 0.618 retracement. Gains are approximately 43.4% - 77.6% at take profit targets. Cumulatively, adding dividend to gains, that's approximately 56.9% - 91.1%. Averaging those totals gives us approximately a 74% gain on this trade.
Good luck and trade safely!
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