Evening all. Just looking at the TA on PEN. Daily chart shows the MACD giving a bullish cross. The bollinger bands have tightened with the sideways action of the last 4 weeks and i expect a break upwards from here. The dotted blue line at 6c is the 50% retracement from its high 11/4/07 and its oct 08 lows. The 61.8% is at 7.2c and I am thinking if it can lift from here and get over the immediate 4.9c resistance, it should cruise through the 6c level and test 7.2c.
I have just bought in on friday, so please do your research.
As an aside the stream of good news is impressive for pen.
Cheers
Commy
PEN Price at posting:
4.7¢ Sentiment: ST Buy Disclosure: Held
