NASDAQ:PANL broke out of the perfect cup and handle pattern on very good volume, any pullback towards the neckline at around 6$ is a buying opportunity to target 8.55$, stoploss daily close below 5.5$. Be careful, it is a low volume stock.
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This is only my own view and not financial advice, do your own analysis...
Pangaea Logistics Solutions, Ltd. (Pangaea), through its subsidiaries provides seaborn dry bulk logistics and transportation services. The Company utilizes its logistics proficiency to service a broad base of industrial customers to offers transportation services for a wide variety of dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted...
Pangea is a strong shipping company doing northern routes and I like their prospects to hit $4
They also happen to have a perfect Penis Pattern. Complete with Hairy Nuts on Either Side.
It's cousin the "Lance Armstrong" can be seen in 2000 right before the crash.
Note what's missing.
*CLEARLY NOT FINANCIAL ADVICE*
If confirmed this pattern has a measured move downside to $19.75. If you decide to take a short position make your stop loss at recent swing high $25 with target price $19.75. If you are a option trader join us www.woowtrading.net
