D Time for a cleanup. With all its consolidation and ranging...

D


Time for a cleanup. With all its consolidation and ranging prices, PEN has spoilt me for choice when it comes to pitchforks, trendlines and fibonacci extensions and retracements. To put them all would make the chart unreadable.

*Broke out of green pitchfork, on 46m shares (finally, my volume I've been whinging about)
*Zoomed through purple middle tyne
*MACD well on its way
*Stochastic overbought, but that doesn't mean the run is over

I think we may be ready to break the long standing red channel.

D - wide


*Entered the pink pitchfork. If we can stay in it (almost certainly will), we will be grinning ear to ear for the next few weeks.

W


*Stoch pointing back up
*MACD jumped back up
*Time to test red channel
*Black fork seems strong
*Green volume starting another expansion

M


*Tested and rejected middle black tyne. However, looking great for only 10days into the month
*MACD good
*Stoch good

Not much needs to be said. Good time to be a PEN holder. News due.