Hi All,
I'm not a holder of PEN but a poster on the CCC forum requested some insight on the TA. I thought I'd take up this request as an opportunity to show you what I'm seeing on the charts.
PEN has had a fantastic run. That there is no denying. At all points, however, a stock needs to consolidate to clear out the weaker hands. This is what everyone calls consolidation, or a 'retrace'. There are a few signals on PEN's chart showing that the time for a retrace could be now. Don't worry, I'm not looking for a lower entry, I'm tied up in other stocks, I just wanted to show you this chart for interests sake.
Going by historical trading, I would be calling a top at these prices, and I would expect some strong support around 8.4cents. Having heard of the stock's fundamental story, I like where it's headed, so my advice would be to use any retrace as a prime buying opportunity.
Regards, 5hareholder.
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Last
11.0¢ |
Change
0.010(10.0%) |
Mkt cap ! $350.5M |
Open | High | Low | Value | Volume |
10.0¢ | 11.0¢ | 10.0¢ | $1.538M | 14.43M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 268799 | 10.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.0¢ | 5585591 | 46 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 268799 | 0.105 |
26 | 5936923 | 0.100 |
5 | 399713 | 0.099 |
14 | 1734004 | 0.098 |
4 | 601000 | 0.097 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 5359191 | 43 |
0.115 | 6001327 | 40 |
0.120 | 7185710 | 54 |
0.125 | 2308607 | 14 |
0.130 | 1514601 | 21 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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PEN (ASX) Chart |