I think it is outstanding intermediate use of MSppt, altough I agree just a little with the falling wedge...with a little bit left out...
ST Sell....I don't think so ;)
I think if we look at the triple bottom and strong resistance of PEN and the very low volume, we are about to see the long held view that 7c is about to be tested.
Market down for the last week big time and PEN down a couple of pips and rising from a dump early today. PEN IMO was a strong buy signal today and I did just that. Hang the expense lol...
PEN remains in an uptrend in a chart longer than the last few months as was shown. I will go with the trend and it isn't down. PEN hit a strong resistance point in an uptrend trading band.
Bounce time is coming....and yes this will be interesting to watch ;)
"Falling wedge in an uptrend BULLISH"
source: www.chartpatterns.com
a traders perspective, chart direction, page-8
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Last
11.5¢ |
Change
0.005(4.55%) |
Mkt cap ! $366.3M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 11.5¢ | 10.5¢ | $2.185M | 19.39M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 1892350 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 3719 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| PEN (ASX) Chart |