PEN 7.50% 7.4¢ peninsula energy limited

chart march 4

  1. 561 Posts.
    D 4Mar


    +Higher high at 0.145 vs 0.14
    +Nearly into oversold
    +That 41MA getting closer!

    -Strong rejection of 0.145 - if you saw today's trading (or have an iPhone) you should see early test of 0.145 then the drop to 0.13
    -Stoch still pointed down
    -Increased volume on red day
    -MACD worsening and dropped below recent bottom
    -EWT, if my alignment is correct then today could be b completion, meaning c wave down should begin next week

    If I had to guess, I would say a touch of the 41MA will be the start of the next wave up. I think this will happen sooner rather than later. Weekly still very overbought, MACD-signal pointing down, but decreasing red volume. All of this makes me think perhaps Wed/Thurs next week may be the bottom. Crystal ballin' like a boss.

    MJ
    Winning!
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