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PEN peninsula energy limited

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TK4

237 Posts.

95

23/12/24

19:43

Post #: 77170035
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Originally posted by Tomaszabc: ↑

After 30% ride up from 17 December, we can see a something called "nose bleed". If roller coaster is going up too fast, you can get bleeding from nose. Algos and traders do that. We are still at uptrend from low levels looking at MACD and fundamentals.

After initial breakout, price retested 1.220$ for making sure it hold. Algos are blind to fundamentals (I think that), and want to retest, was it sound breakout or not.

Looking at bigger picture, price is always oscillating around 200 day moving average. 200 day MA is now at 1.885$, and with positive fundamentals, we should get there in no time.

2.9$ is a next stop after reaching 1.85$ looking at 200 weekly moving average:

But first, we have to close a gap at 1.645$. Algos and traders love to close gaps:

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awesome. thank you.

PEN Price at posting: $1.24 Sentiment: None Disclosure: Held
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