Sep. 11 at 5:02 PM
$PLG has been trading within a large symmetrical triangle for several years. Since 2020, the stock has been capped by a descending resistance line, while higher lows have formed since 2023, steadily compressing the price toward the tip of the pattern. Based on this setup, a breakout is highly likely in the coming months, before October 2025. The series of higher lows suggests that the probability of an upward breakout is greater.
The potential target for such a breakout can be calculated by taking the height of the triangle at its base and projecting it from the breakout level. The base stretches from around
$6.00 at the 2021 high down to about
$1.00 at the low, giving a range of roughly
$5.00. Adding this to the current breakout level near
$1.75 points to a price target of approximately
$6.75. With the Waterberg Project as a significant catalyst, PLG now stands at a decisive moment where technical analysis indicates the possibility of a strong upward move in the near term.
