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Is Pantheon Resources breaking out of a bullish Falling Wedge? (PANR)

Pantheon Resources (LSE:PANR) has seen its share price decimated over the past couple of months after it reported operational failure in April. Fundamentally, the market appears to have concerns over its available cash moving forward, but chartwise there may be a technical play.

After a few weeks consolidation around 18p, the stock may have found its bottom. Today, the share price has poked its head out of a falling wedge pattern which has confined the stock over the past couple of months. This pattern often results in a bullish trend reversal, and a close above 18.15p could confirm the start of a recovery for Pantheon.

Author: Stuart Langelaan

Disclosure: The Author owns shares in the company mentioned above

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