Not sure what anyone else thinks. However after the last few months selloff in the market and the huge drop in resource stocks again today I thought PEN held well once again.
One positive out of today is that the market displayed signs of (mini) capitulation after the prolonged downturn.
Is this the bottom? Who knows, I certainly don't. If the market doesn't hold at this level then we would have to expect another run on margin calls, if that hasn't already occurred.
One thing I did notice today is the selling generally in the market was huge early on and then slowed considerably. I would like to view this as a glimmer that this is nearing an end.
All spec stocks completely unloved today though, with PEN only having a very slight fall on low volume.
A bumpy ride to the top along the yellow(cake) brick road.
positives out of today
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Last
8.4¢ |
Change
0.006(7.69%) |
Mkt cap ! $269.2M | |||
| Open | High | Low | Value | Volume |
| 8.3¢ | 8.5¢ | 8.2¢ | $1.203M | 14.48M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 164289 | 8.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.5¢ | 1000155 | 12 |
View Market Depth
| Last trade - 14.06pm 12/09/2024 (20 minute delay) ? |
| PEN (ASX) Chart |