PEN 5.00% 10.5¢ peninsula energy limited

Zubana if it gaps down past 2.2c that would be a major break of...

  1. 1,197 Posts.
    Zubana if it gaps down past 2.2c that would be a major break of support and I would want out at any rate. I believe there are two possible strategies to play here, the 1st is to wait for confirmation that the long term downtrend is broken and tested before entering as Soul is waiting for, or assuming we are pushed down by that resistance line again accumulate between 2.3-2.5c with a stop loss below the major support at 2.3 (I would consider putting it at 2.1 if you can cope with the possible loss ;) ).

    Things are about to get very real in the next short while, either PEN breaks a 3.5 year downtrend at 2.7-2.8c or we plunge to our deaths as PEN breaks major support that has been around even longer at 2.3c with a cross of the two just ahead! Very exciting!

 
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