Pendlebury hurt his knee early in Saturday night's win over Sydney but the Pies believe it isn't a severe injury.
Collingwood football chief Geoff Walsh said today, "It's not too bad."
"Our docs are pretty confident it's just a strained medial (ligament) and nothing more than that, which isn't too bad.
"He's probably looking at two to three (games out)."
Collingwood will still need to assess scans during the week but that is positive news. Nevertheless it still does throw up a dilemma for many DT coaches.
But they'll be enthused by the fact that because Pendlebury got injured so early in Saturday's match he scored a donut thus his price won't be affected so his sale value will still be strong.
Other injury news for Collingwood is positive, with late withdrawal Nathan Brown likely to be okay for next round despite knee soreness, while forward John Anthony is expected to be cleared to play next week after a corked hip on Saturday night.