The price increased 2.2% in the last week and soared 16.2% in the last month.
This has been propped up by high volume of 3.5 times average for the week and by robust volume 2.5 times average for the month.
Compared with the All Ordinaries index which rose 2.0% for the week and 1.2% for the month, this represented a relative price increase of 0.2% for the week and 15.1% for the month. In the Australian market of 1,385 stocks and 79 units traded today, the stock has a 6-month relative strength of 93 which means it is beating 93% of the market. The price to 50-day EMAP ratio is 1.3, a bullish indicator. In the past 50 days this ratio has exceeded 1.3 16 times suggesting further upside. The 50-day EMAP has increased to 7.01c. An increase is another bullish indicator. The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) minus the 26-day EMA is positive suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal. The stock is trading above both its MAPs and the 50-day MAP of 6.89c is higher than the 200-day MAP of 4.47c. In the last three months the stock has hit a new 52-week high thirteen times, pointing to a significant uptrend. Options There are 407,438,755 options on issue representing 21% of total shares on issue. The exercise price of the
PEN Price at posting:
9.3¢ Sentiment: LT Buy Disclosure: Held
