Still trending strongly with the long term support trend line.
PEC after +DI positively placed (1st arrow) and gaining momentum after >30 the price began the strong surge from 0.69 to 0.82 app.. 19% gains. However the price after hit the historical symetical triangle resistance was being thown down to the support line.Now the history is going to repeat again. The +DI (2nd Arrow)is approching the 30 mark again and ADX is poiting up which signify an increased in up trend momentum. But this time maybe totally difference. The price (Candle)now finally break away from the historical symetical triangle and the price consodilation is almost 100% filled the triangle squeezee area... PEC may move really fast if >0.81 and shall be able to cross 0.85 with ease and finaly the breakout at 0.96 before approching the 1.05 final target derive from symetical triangle price measurement. vested interest at 0.77
PEC after spiked from Ipo at 40 cents and hit historical high of 0.95 on 2009 Sep 01 and hit low at 0.595 on 5 Nov 2009 since then PEC had been trading within the symetical triangle pattern for >75% triangle filled.. Now chart reading is poiting a break out at 0.79 with price measurement of 1.05!!! Hold tight !!!
PEC after recently price surged to high of 0.81. now price is range trade within 0.81 to 0.775... The vol is also declining during the price consodilation phase and we view this is as a positive sign. As long as the price can stay above the 0.77. PEC will have a high chance to break the 0.81 and heading to next target 0.84...however we need to monitor closely for the T+5 deu. especially after Friday the T+5 due date we shall able to see the final move of PEC. personnally I fell is safe to collect at pullback level. ideally is around 0.775 to 0.785 level and SL can set at 0.77... vested interest.