Trend Table for PANL - Pangaea Logistics Solutions Ltd.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 13	C	Weak or Absent	Down	Up	Flat	25.98%
Dec 12	C	Weak or Absent	Down	Up	Flat	25.48%
Dec 9	C	Weak or Absent	Down	Flat	Down	28.55%
Dec 8	C	Weak or Absent	Down	Up	Down	28.03%
Dec 7	D	Weak or Absent	Down	Flat	Down	29.08%
Dec 6	C	Weak or Absent	Down	Up	Down	25.73%
Dec 5	C	Weak or Absent	Down	Up	Up	24.00%
Dec 2	C	Weak or Absent	Down	Up	Up	24.24%
Dec 1	C	Weak or Absent	Flat	Up	Up	22.78%
Nov 30	C	Weak or Absent	Flat	Up	Up	22.78%