You completely misunderstood what I wrote. My analysis was based on some facts.
Last Thursday's price was, for me, a pivot point because the stock had not seen much volatility until then. Friday's trading was the beginning of much higher volatility because investors were expecting a quarterly earnings report the following Tuesday (two days ago), which we all saw. It was an open question whether the trading price before the earnings release would cause the price to go below that point. For a long time, the trading price stayed above the povot point, so for me, the bull market in PEIX held.
When the trading price went below the pivot point, a bullish treat changed into a bearish trend. I'm now watching other signs that will te'll me when this bear market for PEIX stock will change back to a bull market. You did say that you understood the concept, right?
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