PDN.TO

PDN.TO has shown surprising upward Level II movement in spite of heavy selling. On the open, we will be looking to take a position with tight mental stops. This particular rise looks to be ripe for a spike... There is room to move up. However, it goes against the odds with the weekend coming. So, that is against us.

The last defiant stand could turn into a good run... WE have a buy signal... Look to this chart PDN.TO - 60 min Renko, 780 posted in the StockCharts Public Chart List . You will see a double bottom on the renko bricks @ $2.20

We have posted up to date commentary. When we reference a trade off the lower bollinger, we look to the left and right hand of the devil.. RSI 14 and MACD 12,26,9 and compare the same renko chart to a PDN.TO - 60 min Candlesticks, 780.

We use the 60 minute candle chart to try and catch the turn. (You can't trade a daily renko; and upward or downward movement in a 60 minute renko doesn't illustrate the gaps... only the cumulative price move for any reason).

You can do the same comparison for tops, or you can switch to a quicker renko chart. We move to 10 minutes when making the same comparison, renko to renko. There is a 10 minute renko chart for observation.

We will be watching Level II for signs of reversal. Friday must be a higher finish to risk a gap down open over the weekend.

Overall, the stock looks neutral for bearish price movement and with the lower bollinger bounce and strong Level II price creep, we are anticipating a breakout.

Friday can go either way.

If the price stays strong over the weekend we will have made a good trade.

The large trend is still down... In a weekly candle chart this issue has posture and room to retest under $2.00

GLTA Lostoutwest
Kenuck SmallCap Trader

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