Looking good again!!!, page-9

Weekly Ichimoku chart with Hawkeye volume.

Weekly IC chart shows price closing near the top of the Ichimoku cloud indicating improving bias and a possible future new cross of the Tenkan-sen line above the Kijun-sen line (which would signal a new long entry on the weekly chart).

The bounce off the descending parallel channel seems to have broken the down trend on the weekly chart albeit on pretty small volume. Anyone who bought that level at 42cents will have done well in the short term. I did point it out but I didn't buy it as I don't trust rising or descending parallel channels that much. Hawkeye volume shows predominant low volume buying last week and predominant churn in the prior week.

Daily IC chart still not signalling a long entry and neither does the hourly IC chart, although the hourly chart shows that the price action is now above the cloud so potential is forming for a long entry on the hourly chart.

A trader basing his or her trading on the weekly, daily or hourly IC chart would be neither long nor short PEX at the moment, they would be on the sidelines. Esh