Trend Table for PANL - Pangaea Logistics Solutions Ltd.

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jan 4	A	Weak or Absent	Up	Up	Up	31.32%
Jan 3	A	Weak or Absent	Up	Up	Up	29.14%
Dec 30	A	Weak or Absent	Flat	Up	Up	35.66%
Dec 29	A	Weak or Absent	Up	Up	Up	35.14%
Dec 28	B	Weak or Absent	Down	Up	Flat	38.07%
Dec 27	A	Weak or Absent	Up	Up	Up	34.10%
Dec 23	A	Weak or Absent	Up	Up	Up	33.84%
Dec 22	B	Weak or Absent	Down	Up	Up	38.62%
Dec 21	A	Weak or Absent	Up	Up	Up	34.87%
Dec 20	B	Weak or Absent	Down	Up	Up	38.07%