El Capo, the way I read it is that the U index (from mudguts) which is related to U company prices which is showing an increase aligns with your wave 2 U low price for 46.5 (which appears to have been just met). That is the market is anticipating increasing U prices from now on (or just before) the U low with the market reinvesting in the U companies that are likely to see gains with rising U prices.
At the moment PEN are lagging the bunch (U index) so when we do get news I expect a nice little correction.
My simpleton's view so please DYOR.
PEN Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
