Funnily enough Joe, I find after lots of years watching stocks...

Funnily enough Joe, I find after lots of years watching stocks rise and fall somewhat inexplicably, that PGC is the one that has most closely followed the rules of technical analysis, even though it trades at such low volumes. It's almost as if you can see individual share holders gaining confidence, then losing their nerve, and vise versa.

I've only been paying close attention from mid 2013, but a most orderly collapse in the price from 50c to 23c culminating in a massive volume dump at the 11th hour followed by a similarly orderly rise above the early 2013 support levels to consolidate for a few months was very encouraging. It tried to break above resistance from the same period for several months while stale holders remembering 23c exited, then eventually got through classically over extending itself. I see this as nothing to worry about at all.

Now it should either bounce from here or retest the last support level depending on the enthusiasm of buyers and sellers. I'm going for the buyers winning out, but 50c should take a little longer. It is the irrationality of human behaviour, fear and greed that makes markets fun, and at their best profitable.

Invaluable fundamental analysis from yourself and Firsova has given me confidence in the company's future, but not everyone has access to that or the ability to do it themselves. What we are seeing now is holders who didn't sell at 46c thinking to themselves "Oh crap" and trying to take what is left on the table. The good news is there doesn't seem to be that many of them, which TA wise is just what you want to see.

Regardless of where it retraces to I reckon it's got 2 good runs left in it before it turns into a proper correction back to value, which with luck will be around 50c+ in the mid term.

So as long as PGC keeps following the rules as closely as it has this last 18 months I'll be happy to hold at least most of that I currently do. Remember, if it wasn't for that irrationality, we wouldn't have been able to buy the stock at 23c (well 23-28c in my case, but many will have bought a lot more at 23c than I did).