The share is in a bearish wedge with expectation to break to the downside. The move down would have extend further but is expected to be halted by the bottom trendline of the channel. Open a long position on price finding support at trendline or when it makes a swing low indicating a reversal to the upside with expectation of breaking out of the channel resistance.
Comment:
Though PAN has broken to the upside, still looking for price to retrace downwards for a lower risk entry.
Comment:
An extension of the upper resistance line shows PAN trying to break higher from the bearish wedge. Good thing is the support line has risen meaning price is constricted in a tight range. Ex-dividend date is key which way price breaks, expectation is to the downside still.