seems PEN is in a sense defying the charts at the mo... i mean in terms of the indicators that are looked at in the mainstream, such as MFI, OBV, stochs... haspete kindly pointed them out in his recent video for us all to see...
for me the most glaring one tho is PEN's recent proclivity to strongly hang onto, or in past few days even above, the upper bollie... I've been told by a lot of well respected TA'ers that a couple days of SP lurking above the upper bollie is a sure signal to sell in anticipation of a sell-down... I for one sold one quarter of my holding of PENOA at just under 10c primarily due to the "precarious" position of the candles above the upper bollinger curve thinking (1) protect some capital and (2) get in for more oppies at maybe a cent lower... tsk tsk bought that 1/4 back today at 10c, lol, feeling slightly sheepish, and we finish today w PENOA @ 11c and PENOC kissing 11.5 (it is valentines day after all)...
i'm thinking you're looking at a somewhat different angle like gann due to the above considerations perhaps?, IE "typical" indicators pointing to a selldown that simply isnt occurring...
thanks for your viewpoint on gann (have read up on it a bit now), I'll be keeping an eye out on those date periods and price range...
guess in the end goes to show if ppl want the stock bad enough you can throw the chart out the window
PEN Price at posting:
14.5¢ Sentiment: LT Buy Disclosure: Held
