With PNRA reporting tonight, and CMG's disaster still lingering in recent memory, a downside play for earnings seems to be in order. Looking at the daily Ichimoku chart PNRA first failed in an upside breakout attempt of the cloud, then broke to the downside below the cloud and has now rallied from its lows. For a detailed look at Ichimoku analysis please look to http://www.youtube.com/watch?v=HN7vo0FeeaQ Couzin Vinny gives a great introduction. Essentially the cloud bottom now becomes resistance. The Chikou, the cyan line has also broken to the downside (see blue elipse on chart).
A break below 135 opens up the real possibility of a gap fill going back to November at 118.17.