Since I did PEK I thought I may as well do PEN for CEB2.I find...

Since I did PEK I thought I may as well do PEN for CEB2.

I find this chart interesting primarily because I cant recall seeing such a dominance of red candles before. Slightly more green candles on the advances, but most days are clearly red candles. Looks like PEN traders/investors have a habit of getting a rush of blood early in the day & then 2nd thoughts later on. Quite interesting and possibly a reliable tradeable intra-day pattern???



Anyway, it appears to have broken through a LT downtrend and its current advance is governed by a bullish channel, shown in purple. The stochastic is not quite overbought, but looks toppy and judging by the look, price will probably test the support side of that downtrend line - that would be a key decision point I tink for anyone looking to top up or jump on or off.

Cheers, Sharks.