Ann: HY2019 Investor Presentation - March 2019, page-9

PME daily GMMA chart attached below. Note how price is still above rising longer-term 150 and 200-day exponential moving averages. However, many traders' trailing stop losses would have been hit, hence they would have recently exited PME. The first exit point was a Guppy CBL at $15.93. The second wider trailing stop loss was 3 x ATR at $15.54. This is the green dotted line. The 4 x ATR exit line is $14.93 that was breached today at $14.83 close.

Note how 3 x ATR triggered an exit back on Jan 30, 2019 at circa $12.28, but price subsequently recovered. This indicates that a 4 x ATR trailing stop may be more suitable for PME. Each stock exhibits different average volatility that require different ATR multiples.

A possible buy entry is immediately after price trades above today's $14.87 high. However, if price continues to fall below today's $14.60 low, the potential entry point needs to be re-calculated. This is a retracement (or buy on weakness) trend trade that I currently have on my radar.