my "TA" on this is more intuitive than anything, but it makes perfect sense IMO... while the market generally has been crapping its pants most days lately, with numerous massive red DOW days and big red days locally, PEN has bounced consistently off support... its been almost immovable... if big $$$ wanted or could have taken it lower there have been many many days that PEN could have been shaken down recently but its consolidated on consistently low volume,.. and today's rise was on markedly increasing volume in contrast... I'm no chartist (and I certainly appreciate the charts and analysis put up by the likes of moneybags) but I would be very surprised indeed to see this head down after weathering all the pervasive negativity on the general market lately... Not saying it cant happen but I think worst case scenario is further consolidation edging up towards resistance... which is almost what is already happening really...
am surprised PENOC's are still up for grabs at 10.5c good buying still IMO
PEN Price at posting:
13.5¢ Sentiment: LT Buy Disclosure: Held
