Chart below -
This is basically a weekly trend & momentum chart going back as far as possible. Some indicators are bullish while some are on the verge of turning bullish.
Red sloping lines = downtrend resistance,
Flat red line @ 0.031 = overhead resistance,
Green sloping line = uptrend support,
Blue line = the 20 week simple moving average.
The price rising above the moving average recently is bullish. Moving average @ 0.018 & rising should provide support until the trend ends.
The price hit the two year old downtrend & respected resistance two weeks ago. Downtrend @ 0.024 this upcoming week.
A bullish divergence between RSI & the price occurred last October when the price made a lower major low but the RSI didn't.
Significant that this happened when the RSI was oversold, on a weekly chart.
Red line on RSI = a downtrend. RSI breakout, retest & then break above 50 is bullish.
Green lines on RSI = a rising channel.
The Directional Movement System shows the early stages of an uptrend.
Green DMI+ line above red DMI- line sets the scene for going long.
White ADX line rising above red line provides the buy signal.
White line rising above 25 would confirm this buy - currently @ 22.8
The recent green MACD line rise above it's red signal line is bullish.
MACD line currently sits on the center line, (zero). A rise above this line is bullish as it signals that the stock's longer term momentum is changing from negative to positive.
In a nutshell, PEN is on the verge of a positive change in momentum direction, just under an established downtrend line & in the early stages of an uptrend.
IMO, DYOR
Regards![]()
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Last
8.9¢ |
Change
0.008(9.88%) |
Mkt cap ! $283.6M |
Open | High | Low | Value | Volume |
9.2¢ | 9.3¢ | 8.8¢ | $1.366M | 15.11M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 185901 | 8.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.0¢ | 581740 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 185901 | 0.089 |
7 | 250661 | 0.088 |
7 | 693418 | 0.087 |
5 | 959800 | 0.086 |
9 | 1826563 | 0.085 |
Price($) | Vol. | No. |
---|---|---|
0.090 | 581740 | 2 |
0.091 | 83704 | 2 |
0.092 | 130001 | 2 |
0.093 | 78885 | 2 |
0.094 | 247374 | 4 |
Last trade - 16.10pm 26/08/2024 (20 minute delay) ? |
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PEN (ASX) Chart |