PKB

PKB is in a Stage 4 decline with medium-term bearish bias confirmed by Lower Highs & Lower Lows structure and price below declining EMAs; short-term conditions remain unfavorable as rallies are rejected at the 9 and 20 EMAs in an oversold context, so execution should occur now on bounces into EMA resistance zones. The long-term uptrend above the 200 DMA remains intact but is secondary to current distribution pressure.

• ↑Gov’t infrastructure spending to lift construction materials demand.
• ↑12-month return +28.4% vs SPY’s +25.7% indicates outperformance.
• ↓Existing homes supply at 10-year high and 6.49% mortgage rates.