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PEM having retraced 61.8% Fibonacci, rallied to find support above the 200 DMA (blue line) following a two wave correction (red zigzag). A break of $4.40 would signify that PEM has completed its larger 4th wave correction and will start its 5th wave move up to our long term target of $7.00 - $8.00. A correction can be expected in the $5.00 - $5.50 zone before continuing higher.