PEX has had major up moves and peaks (16th august, 03 sept)...

PEX has had major up moves and peaks (16th august, 03 sept) following each of these the volume has steadily decreased. After the 16th price moved up before levelling out, the we got an announcement and spiked, before trailing lower on decreasing volume.

We are now at a point i believe where we are either due an announcement (assays?) or we get a shakeout.. .the BvS is not looking healthy at all and this may follow through with a sharp drop followed by an immediate bounce up (google shakeout..)

NB: i said MAY..

This really depends on resistance at current levels and if we get another announcement. The sp has also filled a gap from the last spike. Current level is 50% retrace from sp high. Do we go down lower for a 61.8% bounce or consolidate here?

My crystal ball is not so clear with PEX right now, but hopefully i have offered some kind of insight.. ..looking at the chart could argue the formation of a descending wedge, which would be bullish... ..hold tight and see what happens tonight ;)