Following the distribution of Peregrine (See link below), we have seen two stepping stone redistributions. In the current redistribution, we have seen an upthrust with some volume. Watching for a break of the trading range (TR) for the markdown to continue.
After a distribution trading range (TR) Peregrine Holdings was marked down. A re-distribution range formed and there was some effort to push the stock higher but without response indicating continued supply. The demand has dried up and the stock is being pushed lower after a retest.
