Although PEIX recently made a very brief intra-week dip below the daily support zone, prices have yet to close below the key weekly support level. As the stock continues to wedge towards the apex of it’s large descending triangle pattern as view here on the weekly time frame, a resolution of the pattern (upside or downside break) will occur within the next few weeks. Targets for an upside breakout, preferable on high volume, would be the blue downtrend line & then the horizontal resistance zone. Updated weekly chart:
