only agree imo with your last paragraph good money is always...

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Jaat308

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08/12/24

08:29

Post #: 76959774
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Originally posted by dc1234: ↑

PEN having a big test, like other ASX U stocks. Can it hold?.
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Like other U stocks, PEN made a low in early September - 6.9 - equivalent 138 now. Then it reached 11, equivalent 220. Then news. Big drop. Now playing with fire. What happened? Its 52 week high is 400, currently 110. Its down around 75% from its high.
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.PEN playing weak. Not sure what can change its fortunes, besides overall ASX U macro play? Not sure. Tough times coming up.
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This is what I have written about U sector in my Weekly Report this week on AGE thread. Anyone more interested in other sectors, general markets, etc, look at my other posts around the weekly report, as I write that on one thread only.
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Uranium Sector overview- CCJ in very strong bull territory. No stopping it seems. I have been writing for last couple of months now, before CCJ crossed 56.24, that if it makes a new high above 56.24, it could go up to between 65 and 70. On Friday it reached 62.55. So its on target. Finished at 61.06, gained over 2.5% this week.
But unfortunately we can't say anything positive about ASX U stock - I mean U stocks which are primarily played in ASX. PDN/LOT flat, BOE lost 5%, DYL gained 1%. The divergence between ASX and US U stocks which started in August, has been growing and growing.

If this trend continues, punters who want to play U sector, have to play US U stocks

CCJ has gained 45% this year. Most ASX U stocks have lost around 30 to 40% this year. Cumulative effect is a loss close to 80%, if one had played US U stocks rather than ASX U stocks.
This doesn't mean it will remain like this. Some may think of this as an opportunity, thinking more gains can be made in ASX U stocks. Its possible, but its now going for months. Its individual interpretation and expectation now

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only agree imo with your last paragraph
good money is always made from the bottom asx
chasing highs is a sure way of getting burnt us

and stock specific info pens 52 week high is $2.82 aka .14c not $4 aka 20c
PEN Price at posting: $1.11 Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

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