PGI - Ready to test 23c

Looks like price may have bottomed out and is currently reversing with strong volume.

Context: Price flattened out once after it hit 10c, broke further down before failing to break 6c twice.
Since then, it has rallied above 10c with a solid build up of volume indicating a big jump in interest in PGI.
Currently chopping around the 10c.

Chart: A very bullish Cup & Handle pattern forming, very bullish because the handle is where the build up of volume (i.e. accumulation) takes place.

Trigger: The strong move down last week closing at 9c with a volume spike was certainly concerning for holders. However, the lack of any follow through whatsoever the next day (and currently, the next week) tells me that was an EXHAUSTIVE move rather than a sell off, and the volume was likely to be a sneaky buyer stepping up or staying hidden (with an iceberg order) soaking up all the selling that took place that day.
Not surprising, as this took place at the 9.5c resistance/support level, where I'm sure many clever and sneaky institutions would expect panic sellers and buy in at. This adds even more conviction.

Depth: Currently 1 bid for every 2 offers (500k vs 1100k). But don't let that fool you, the depth is a very poor reflection of current trading activity for this stock. Like I said, there's a strong possibility of sophisticated orders and gaming taking place in order to get their buy orders filled. You don't get 500k volume (see 27th April) when the TOTAL bids are only 500k, unless bidders are hiding their orders from the depth.

Shorting this stock not allowed by any of my brokers, no short open interest, easing future selling pressure.

Levels: Short-term 18c, 23c, and 37c





Feel free to share your fundamentals  or general thoughts on this stock.

GLTA