I was not talking about any pattern I was talking specifically about the chart pattern you drew over. That same pattern is painted all over PEN specifically, it is a pattern that shows up all over low liquidity penny stocks. I offered a reason as to why that is the case.
And yes I do think it is futile to do your form of TA on low liquidity penny stocks at least if you are honest about it. If you are dishonest about it you might go onto a forum like hotcopper an broadcast your short term trade in the hope that other people will pile in and then get offended at a counter narrative.
"nothing is happening except now everything is happening" you have to admit over the last decade not much has happened with PEN no? I did not say everything is happening though, not sure how that is something you can get from what I said. I would say something (not everything) is happening now which is easier to see in the general trend of the uranium spot price because it has less noise resulting from short term hopium price spikes and possible manipulation. The distinction between talking about the past 10 years and talking about now is important. Trying to to make me sound crazy because I say one thing then a different thing doesn't work if I am talking about different timeframes and even different charts.
"i bet the price will go up soon but more likely it will go to 14c or below" I did not say it is more likely to go down. I said I am betting it will go up (which is not even a statement about the likelihood of it going up but in this case it would be correct to imply I think it will from that) in the long run so I hope it will go down in order to buy more before that happens. but saying I hope it goes down in the short term is not a prediction that it will so I stated that it can. Again not a statement about the probability of it happening. This should not be a complicated or controversial idea. I have a core position in PEN, that is my bet that it will go up and I have money in reserve that I may use to buy more if in the short term the price goes down. That only makes sense if I think that the price will go up or has a good chance of going up in a longer timeframe. I dont have a buy sentiment because I am not buying at this price and I dont have a sell sentiment because I am not selling until I see higher prices and or my exit conditions are met.
"This post is absurd." that is actually a better tl;dr for what I was saying about your TA but I'm not capable of being so concise.
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Last
8.4¢ |
Change
0.006(7.69%) |
Mkt cap ! $267.7M |
Open | High | Low | Value | Volume |
8.3¢ | 8.6¢ | 8.2¢ | $1.524M | 18.28M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 302820 | 8.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.5¢ | 500000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 302820 | 0.084 |
2 | 60000 | 0.083 |
2 | 42201 | 0.082 |
4 | 134530 | 0.081 |
4 | 253001 | 0.080 |
Price($) | Vol. | No. |
---|---|---|
0.085 | 500000 | 2 |
0.086 | 432923 | 6 |
0.087 | 1037481 | 5 |
0.088 | 44500 | 2 |
0.089 | 123363 | 3 |
Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
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PEN (ASX) Chart |