dragonfly doji, page-17

Your posts seem well intentioned and I'm sure the veracity of your TA is consistent with all the rules associated with TA. There is one important distinction however with regard to this stock, and that is that the trading volumes and resulting share price activity are clearly devoid of any connection to TA-based trading patterns and are equally clearly aligned with market expectations for growth in the near to mid term, and this in turn is associated with a totally real, transparent and exiting flow of news from two of the most exiting projects on the U horizon. Also of extreme importance is the imminent change in status from explorer to producer, to my knowledge, the only new producer to come 'on line' this year. This is a CRITICAL DISTINCTION as the next major price catalyst will doubtless be the already muted SUPPLY CONTRACT!

The TA indicators you've mentioned have appeared in PEN charts of a regular basis for some time and rather than produce negative outcomes, they have more likely been buy signals for those investors savvy enough to know the Charters are off-loading their shares according to their somewhat predictable trading systems.

I use charts myself as a guide to these very markers as opposed to signals to sell a perfectly good share. I think it comes down to interpretation of information. Although I use charts I have to say they serve more as an indication of trader intention than share price direction. PEN is a classic chart-buster because the SP growth is all about a superbly sequenced set of events (all SP drivers) that will end in NEAR TERM commercialisation of the US project alone. This is a rare find on the market these days.