PEP: Pennant

Here, last month I took position @ 1.44 because I thought it will form another pennant. Sadly, it went down to as low as 1.18. But, it established support at 1.18 and did not go down further. Then, past few days PEP is back in the move. Even though, the market is down this stock is making its move. Is this another pennant in the making? Unlike, my BC: Pennant post this time it has the volume it needs.

I hope this will form another pennant and achieved the target price @ 1.78-1.80

Pennant
PEP Chart January 04, 2008