Yes, it can double, for sure from an extremely close 52 week low of 8.6.
Maybe a rights issue/SPP ahead, but surely they'd like to get a placement away, well before AGM resolutions. However, in 2022, they dragged out a $35m placement to late November.
Assuming they are need of a capital injection, do they have the ability to do this again with or without shareholder approval.
Not sure.
Therefore, my own prognosis for PEN is that a low maybe hit between 6.9 and 8.6.
For me it may be around 8.1, all things being equal and only using a very short term MACD oscillator.
However, It's a fair buy in this climate, without losing your pants and using a tight stop loss, but lots of resistance points are ahead, well below 10 or 11.
Keeping an eye out on it, and yes I have profited from PEN, many years ago now.
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I think the last was a bump trade in 2017 when it crashed post consolidation
Yes, it can double, for sure from an extremely close 52 week low...
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Last
62.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $98.97M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
| PEN (ASX) Chart |
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