How Low Will Pens Share Price Go Before It Turns Bullish., page-23

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You3OAte

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04/03/25

21:38

Post #: 78132867
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Originally posted by Lord Bell: ↑

Gann discovered most shares correct back to approximately near the mid point of the last high..now the last high was about 1.50 so about 75c to 80c is approximately half so it would appear we have retreated to the area of strongest support will it stop here who knows ..is their value ..I believe when the book value is $1.87 and the share is trading below half book value it doesn't take much to turn it very quickly around with short covering and about 2.5% of the shares have been sold short....In the scheme of things not much.. so it would seem lots of selling by non institutional holders.Hope they are back in for the turnaround at low levels ...as I've said before all going well with the commercial production in the second quarter the tide I believe will change.
Today may be the final clean out at 1.5 million shares.. time will tell.
All the best to All

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So this is a "clean out" after "all the dead wood is gone"?

I see.

I suppose the final tree shake is imminent?

PEN Price at posting: 81.0¢ Sentiment: None Disclosure: Not Held
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How Low Will Pens Share Price Go Before It Turns Bullish., page-23

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