P&F charts filter out much of the "noise" in other types of charts. IMO they have huge value in "identifying the big picture."
Based upon PCS's P&F chart, we have a low pole to $6, from $10. Technically, a move over the 1/2 point of the low pole would be signal a reversal and could indicate a bullish move. 10-6=4, 4/2= 2.
So in PCS's case, a close >$8, staying over $8 could be bullish. Also this is over the old 52 week low of $7.53.