Even though there has been a 'spike' in price PEN has not made a higher high in round about two months.
That still constitutes a down trend. the high that it has now reached needs to clear the previous closing high of 3.3 to offer the possibility that the trend may change. . The formation needs to be completed before any possible conclusions could be drawn, even then it is still a little early to tell.
Cheers
PEN Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held
