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Powerbridge stock price has been on a downtrend for a prolonged time, as it faces resistance from the higher levels and formed lower lows. This shows that the bears have been in control and dominating the bulls. The stock is below the key moving averages, which indicates bearish dominance. The stock has vanished almost 98% of investors’ wealth this year. Powerbridge (NASDAQ: Powerbridge) stock has taken support at $0.5000 which is acting as a strong support level. Technical analysis suggests that the stock is oversold and could bounce back from the lower levels. A pullback rally will be confirmed if the stock shows strong signs of upward movement. Powerbridge share (NASDAQ: Powerbridge) price is in a correction phase but trading near the crucial support of $0.3500. If formed, a bullish candle would  indicate that buyers are active and will try their best to rebound. Powerbridge stock price closed the previous session at $0.5050 with an intraday rise of 13.05%. If the buyers succeed in defending the current support, then the possibility of a bounce-back will increase. However, if the sell-off continues and Powerbridge stock drops below lower levels, more downfall is likely. Buyers tried multiple times to break the higher range and expand upwards. However, due to the strong presence of sellers, the stock faced rejection. It shows sellers are still active on higher levels.  Technical Analysis of Powerbridge Stock Price in 1-D Time Frame Source: Powerbridge.1D.NASDAQ by TradingView Powerbridge price is trading below the downward-sloping 50-day and 200-day EMAs showcasing a downtrend. However, the Powerbridge price has gone far away from the EMAs.  The MACD generated a negative crossover and the histogram is also red indicating bearishness. The RSI at 34 highlights weakness but is near the oversold territory. The current value of RSI is 34.72 points. The 14…

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Filed under: News - @ November 15, 2023 11:10 pm