Trend Table for PANL - Pangaea Logistics Solutions Ltd.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 8	C	Weak or Absent	Up	Flat	Flat	4.03%
May 5	C	Weak or Absent	Up	Down	Down	5.24%
May 4	B	Weak or Absent	Up	Down	Down	9.43%
May 3	B	Weak or Absent	Up	Up	Down	2.84%
May 2	C	Weak or Absent	Up	Down	Down	4.71%
May 1	B	Weak or Absent	Up	Up	Down	2.51%
Apr 28	B	Weak or Absent	Up	Up	Down	1.85%
Apr 27	B	Weak or Absent	Up	Up	Down	2.34%
Apr 26	B	Weak or Absent	Up	Flat	Down	4.20%
Apr 25	B	Weak or Absent	Up	Up	Down	2.34%