From the Chart, it looks like Pelikan is going to shoot up for the second wave. As i am writing this post, this morning the price has gone up to 0.700 coupled with big volume. Thus, i strongly believe the second wave is coming.
To justify my buy call, the technical analysis shows that Pelikan has found its support at 0.600. This zone is also near the 61.8% Fibonacci level.
Secondly, after the first wave ended on 27 Sept 2013, the volume was reducing. Thus, the recent price dropping was just minor profit taking. More to come!
Thirdly, Stochastic shows a oversold signal.
i would suggest to buy for short term.
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