Would it be possible to have an update on PEN from your charts, if you could spare the time.
Unfortunately your stop may get hit early,
This recent move is merely a Dead Cat Bounce from a precipitous Pump and Dump Crash.
Check the chart, it's Deja-vu All Over Again from May '08!
The Weekly MACD has NOT confirmed a LT buy signal by crossing above it's centerline.
The 50 SMA has NOT Golden Crossed the 200 SMA.
Friday's high = significant Fibonacci resistance.
The 200 SMA = 5.6c and there's a GAP @ 5.2c if you're after a short term target/support.
5.0c also represents 50% of the recent run, so hardly an unrealistic target...
However, the elephant in the room is the GAP @ 3.0c
Also, the price of Uranium is flat-lining...
2.5c must be retested and hold to provide a solid base for the next Pump and Dump!
Deja-vu Weekly Chart -
View attachment 46035
Golden Cross MA/Fibonacci Retracement Resistance Chart -
View attachment 46036
:bananasmi
That's what it's for.
I have no concern for news or speculation factual or otherwise.
If momentum moves against my position I'll gladly be stopped.
End game is purely numbers
For me and trading
Reward exceeds Risk
Keep on the right side of that
Equation and trading is simple.
Great stuff tech, textbook trading. All the best on Monday, although I'm thinking there will be a fallout due to some fundamentals.
I'm thinking there will be a fallout due to some fundamentals.
If there is so be it.
By that do you mean the possible one year delay?
Have you noticed the GAP @ 3.0c?
What will you do if PEN opens below your stop?
Yes, and we will see what the market thinks of all this kerfuffle tomorrow.
Are you suggesting the SP will open at 3c? From memory there are 3 gaps on the way down. I resisted the urge to buy on Friday, one of the rare occasions that I get it right with PEN I suppose.
By that do you mean the possible one year delay?
Environmental court case...
Thanks...The thing with pump and dumps is you never know when they'll end.
Only when they start.Hence why a lot of people 'trend trade' these, and judging by volumes doesn't look like it has ended yet.
Looks like HS was right, everything is ok today, boosted by management's assurance that all is still well.
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