Trend Table for PANL - Pangaea Logistics Solutions Ltd.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 28	B	Weak or Absent	Down	Up	Flat	24.48%
Dec 27	A	Weak or Absent	Up	Up	Up	20.90%
Dec 23	A	Weak or Absent	Up	Up	Up	20.67%
Dec 22	B	Weak or Absent	Down	Up	Up	24.98%
Dec 21	A	Weak or Absent	Up	Up	Up	21.60%
Dec 20	B	Weak or Absent	Down	Up	Up	24.48%
Dec 19	C	Weak or Absent	Down	Down	Down	28.55%
Dec 16	B	Weak or Absent	Down	Up	Up	25.73%
Dec 15	C	Weak or Absent	Down	Up	Down	27.25%
Dec 14	C	Weak or Absent	Down	Up	Flat	25.98%