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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Hi All,I'm not a holder of PEN but a poster on the CCC forum...
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Last
7.4¢ |
Change
-0.006(7.50%) |
Mkt cap ! $235.8M |
Open | High | Low | Value | Volume |
7.7¢ | 7.7¢ | 7.3¢ | $1.691M | 22.63M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
22 | 2127304 | 7.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.4¢ | 969 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 2127304 | 0.073 |
13 | 750653 | 0.072 |
14 | 1317970 | 0.071 |
16 | 2596456 | 0.070 |
5 | 566501 | 0.069 |
Price($) | Vol. | No. |
---|---|---|
0.074 | 969 | 1 |
0.075 | 500000 | 1 |
0.076 | 410000 | 3 |
0.077 | 400001 | 4 |
0.078 | 108003 | 2 |
Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
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PEN (ASX) Chart |