Dingo, good question.
PnF charts dont have a linear time scale.
It is all about up and down movements. They show trends well, as well as the market phases and give early buy and sell signals.
You are correct about the base and what we have now is a narrow horizontal range and good entry conditions. The bottom of the range should hold as lower support and any break below would be a sell signal. The 2.4 ceiling is the short term resistance of the range and any break above this range is a buy signal.
It is all aout calculating risk, return and probability.
-Is the SP more likely to break one way or the other?
-If it breaks up where could it go? What is the upside potential?
-If i breaks down where could it go? What is the downside potential?
sp hard to fathom, page-38
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add PEN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
11.0¢ |
Change
-0.005(4.35%) |
Mkt cap ! $358.3M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 11.5¢ | 10.5¢ | $354.3K | 3.202M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 37601 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.8¢ | 335770 | 3 |
View Market Depth
| Last trade - 15.59pm 16/07/2024 (20 minute delay) ? |
| PEN (ASX) Chart |