PEN (ASX) PEN chart

Originally posted by alphaduck: ↑

I was not talking about any pattern I was talking specifically about the chart pattern you drew over. That same pattern is painted all over PEN specifically, it is a pattern that shows up all over low liquidity penny stocks. I offered a reason as to why that is the case.

And yes I do think it is futile to do your form of TA on low liquidity penny stocks at least if you are honest about it. If you are dishonest about it you might go onto a forum like hotcopper an broadcast your short term trade in the hope that other people will pile in and then get offended at a counter narrative.

"nothing is happening except now everything is happening" you have to admit over the last decade not much has happened with PEN no? I did not say everything is happening though, not sure how that is something you can get from what I said. I would say something (not everything) is happening now which is easier to see in the general trend of the uranium spot price because it has less noise resulting from short term hopium price spikes and possible manipulation. The distinction between talking about the past 10 years and talking about now is important. Trying to to make me sound crazy because I say one thing then a different thing doesn't work if I am talking about different timeframes and even different charts.

"i bet the price will go up soon but more likely it will go to 14c or below" I did not say it is more likely to go down. I said I am betting it will go up (which is not even a statement about the likelihood of it going up but in this case it would be correct to imply I think it will from that) in the long run so I hope it will go down in order to buy more before that happens. but saying I hope it goes down in the short term is not a prediction that it will so I stated that it can. Again not a statement about the probability of it happening. This should not be a complicated or controversial idea. I have a core position in PEN, that is my bet that it will go up and I have money in reserve that I may use to buy more if in the short term the price goes down. That only makes sense if I think that the price will go up or has a good chance of going up in a longer timeframe. I dont have a buy sentiment because I am not buying at this price and I dont have a sell sentiment because I am not selling until I see higher prices and or my exit conditions are met.

"This post is absurd." that is actually a better tl;dr for what I was saying about your TA but I'm not capable of being so concise.

Expand

I didn't mean any malice.
You're so out of line that it must be reprimanded. This is the 'PEN chart' thread - not sure if you have been a bit confused.
You're really going to chew me out for posting a PEN chart in a 'PEN chart' thread? And the community gave you a lightbulb for it.

Momentum, moments of expansion, moments of contraction, consolidation, volume spikes... all of these can be seen on any chart. Looking at longer timeframes like the monthly and focusing on the body of the candles, ignoring wicks, can mitigate any uncertainties that might eventuate due to low liquidity and bad actors in the market.

The trend lines and moving averages that I've masterfully installed on the chart aren't meant to be taken as gospel. It is just a way to frame the price movement so that it becomes more digestible and patterns are seen more readily.

No.	Vol.	Price($)
23	4155665	10.5¢

No.

Vol.

Price($)

4155665

10.5¢

Price($)	Vol.	No.
11.0¢	4142147	42

Price($)

Vol.

No.

11.0¢

4142147

No.	Vol.	Price($)
21	3885665	0.105
82	8788185	0.100
7	578212	0.099
12	498440	0.098
9	1011093	0.097

No.

Vol.

Price($)

3885665

0.105

8788185

0.100

578212

0.099

498440

0.098

1011093

0.097

Price($)	Vol.	No.
0.110	4142147	42
0.115	5294866	31
0.120	5843705	56
0.125	2381470	20
0.130	2868909	18

Price($)

Vol.

No.

0.110

4142147

0.115

5294866

0.120

5843705

0.125

2381470

0.130

2868909

(20min delay)
Last 11.0¢		Change 0.005(4.76%)		Mkt cap ! $350.4M

Open	High	Low	Value	Volume
10.5¢	11.0¢	10.5¢	$1.540M	14.39M

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