PEIX has fallen back below the orange (secondary) downtrend line following the 1-day failed breakout and is currently back towards the bottom of the descending triangle pattern. As prices are quickly approaching the apex of the pattern, a resolution is imminent at this point. Any solid break below the pattern would be bearish while a break to the upside would be bullish. Consider a stop on either a daily or a weekly close below 3.75, depending on your trading style and stop preference. Ditto for the next buy signal on an upside break of the pattern.
