Trend Table for PANL - Pangaea Logistics Solutions Ltd.

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 19	C	Weak or Absent	Down	Down	Down	42.58%
Dec 16	B	Weak or Absent	Down	Up	Up	39.45%
Dec 15	C	Weak or Absent	Down	Up	Down	41.14%
Dec 14	C	Weak or Absent	Down	Up	Flat	39.73%
Dec 13	C	Weak or Absent	Down	Up	Flat	39.73%
Dec 12	C	Weak or Absent	Down	Up	Flat	39.17%
Dec 9	C	Weak or Absent	Down	Flat	Down	42.58%
Dec 8	C	Weak or Absent	Down	Up	Down	42.00%
Dec 7	D	Weak or Absent	Down	Flat	Down	43.17%
Dec 6	C	Weak or Absent	Down	Up	Down	39.45%