PEN - Peninsula Energy

[mattryanshares]

Damn thats a good looking chart.

View attachment 41228

C'mon Tech you can do better than that? Do you have a buy and exit price now?
Also why is it so good looking???

 

[hangseng]

News is getting out there finally I see, and what a great site for it to appear on as well. WNN is followed closely by a lot of nuclear/uranium industry participants. I was first alerted to it by Gus himself 2 years ago. He actually monitors it daily with email alerts as I now do. It opens your eyes as to how big this industry actually is and will be.

http://www.world-nuclear-news.org

in part...

Peninsula upgrades Lance resources
04 February 2011
Australia-based exploration company Peninsula Energy has announced a 31% increase in total resources at its Lance uranium projects in Wyoming, USA. The company has applied for a licence to mine the Ross project at the deposit.

Peninsula said that a further upgrade to the JORC-compliant resource estimate for the Lance uranium projects in Wyoming's Powder River Basin puts total resources at 33 million pounds U3O8 (12,700 tU).

The company said that since the release of the updated resource estimate in August 2010, it has continued resource conversion and exploration drilling with the completion of a further 223 drill holes mostly within or near the Ross permit area.

 

[Miner]

News is getting out there finally I see, and what a great site for it to appear on as well. WNN is followed closely by a lot of nuclear/uranium industry participants. I was first alerted to it by Gus himself 2 years ago. He actually monitors it daily with email alerts as I now do. It opens your eyes as to how big this industry actually is and will be.

http://www.world-nuclear-news.org

in part...

Peninsula upgrades Lance resources
04 February 2011
Australia-based exploration company Peninsula Energy has announced a 31% increase in total resources at its Lance uranium projects in Wyoming, USA. The company has applied for a licence to mine the Ross project at the deposit.

Peninsula said that a further upgrade to the JORC-compliant resource estimate for the Lance uranium projects in Wyoming's Powder River Basin puts total resources at 33 million pounds U3O8 (12,700 tU).

The company said that since the release of the updated resource estimate in August 2010, it has continued resource conversion and exploration drilling with the completion of a further 223 drill holes mostly within or near the Ross permit area.

thanks HS.
I visited the WNN site and got subscribed myself. Pretty short and sweet newsletter.
What was more thrilling that the main news was about PEN upgrade in no if or but.
Well done research which even chartists should include in their research.

 

[Miner]

GOOD Morning all PEN enthusiastics

Last posting was on 5 Feb and for 48 hrs so much of silence ?
today PEN rose already to 12 cents.
Hang Seng - hope you have not started opening Champagane to pour over the technical chart just because the actual price has now surpassed Hartley's forecast.

Well done to all whosoever has been following PEN (includes me) and thanks to traders who may want to unload PEN today at 12 or higher to book profits with fundies to pick them up.

 

[tech/a]

Yes a positive result with 12c holding on rather low volume.
11c should now act as strong support.

So Im in the Cue to join you.

 

[mattryanshares]

Yes a positive result with 12c holding on rather low volume.
11c should now act as strong support.

So Im in the Cue to join you.

substantial buy at .12

11:27:33 AM 0.120 1,500,000 180,000.00

However the latest buys at .115 are all ridiculously small??

12:50:18 PM 0.115 83 9.55
12:47:33 PM 0.115 84 9.66
12:44:03 PM 0.115 82 9.43
12:40:58 PM 0.115 82 9.43

Why wouldnt you buy the Penoc at .081 plus the 3 cents take your buy price to .111?

Or does the 2 week lag until you own the full share not sit well with a tech trader as your stuck with the share and unable to sell??

 

[hangseng]

Stay focussed

14,641,794 shares bought UP to 12c

With only
622,739 shares sold down to 11.5c


Someone is shaking the tree to test support...They are not trying to sell a lot of shares.

Ask yourself why?

 

[tech/a]

Or does the 2 week lag until you own the full share not sit well with a tech trader as your stuck with the share and unable to sell??

I can buy a share now and sell it as quick as it takes to click a mouse?

Could well be a test the otherway.

Seeing how strong buyers are there wasnt a rush at 12 to go to 12.5 and beyond.
Im a bit sus (as usual on the buy side).

In at 11.5c and now out again.

 

[TheAbyss]

I can buy a share now and sell it as quick as it takes to click a mouse?

Could well be a test the otherway.

Seeing how strong buyers are there wasnt a rush at 12 to go to 12.5 and beyond.
Im a bit sus (as usual on the buy side).

In at 11.5c and now out again.

Love it! You are as trusting with this stock as a 12 year old boy at a Michael Jackson hosted birthday party lol.

Seriously though, capital is king and to preserved at all times.

 

[Boggo]

My weekly chart of PEN would keep me out at the moment.
Yellow bars = overbought.

(click to expand)

 

[tech/a]

Love it! You are as trusting with this stock as a 12 year old boy at a Michael Jackson hosted birthday party lol.

Seriously though, capital is king and to preserved at all times.

Its NOT THE STOCK its the price action and associated Volume.
It could be any stock code.
Its not the first or last stock Ive traded in a few hrs.

I have no attachment to the stock even those I close out at many $1000s profit are simply CODES WITH PRICE ACTION

Nothing more or less.

 

[indeck]

My weekly chart of PEN would keep me out at the moment.

I had intended on being a bit more long term on PEN but I felt it was overbought also. Definately looking to re-enter though.

 

[barney]

Someone is shaking the tree to test support...

Hi Hang, At the end of the day, the major volume was sold at 12 cents, but the selling did drop to the 11.5 area, and the odd few at 11 ......

Definitely some supply from the odd larger holder today. No big deal in the overall scheme of things, but I suspect a little more yet before they have cleared the decks, based on the price action.

Volume was still only moderate, and the selling was very ordered ... ie Profit taking/reducing ... definitely not dumping behavior.

Short term traders obviously aren't going to hang around at these levels if they perceive no further upside movement, particularly if they bought in recently ......

For that reason, I would like to see a short period of consolidation ....

Chart attached (hopefully its clear enough)

Todays price action confirmed the 50% retrace point (2) on the 31st January from the strong consolidation point (A) on 31st december ..... coincidentally exactly one month

The Volume/price support levels on the 20th + 21st January (1) , and 31st January (2) has now been verified at 10 cents (very important level for long term holders)

The push up last friday 4th February (3) on volume now needs to be verified. Todays price action of supply at the 11.5 cent level indicates hesitation/profit taking (fortunately on lower volume) ....

If the share takes off from the 11.5 cent region immediately (4) , that would be extremely bullish after todays trading, and to be honest, unexpected.

I'm more inclined to want a brief consolidation/retrace from the last move up (31st January till 7th february (today)) (ie. 2 to 3), back to the 68% fib level of 10.5 cents, validated by some volume support, before another leg higher (5)

Bottom line ... while ever its trading above 10 cents, it looks "technically" strong as well as "fundamentally" brilliant.

It could get sold down a little while the pro "traders" give it a breather, but while ever the retail traders are stepping up to the plate and accumulating the dips, it should progress nicely and orderly from here.

Cheers.

 

[hangseng]

Great post barney and although I agree with what you state in general this I don't "the major volume was sold at 12 cents".

It factor the mojorty of trading today was buying up to 12c.

14,879,877 bought up to 12c

9,551,986 at 11.5c of which ~6M was a single sell to 11.5 the balance bought up to 11.5c

2,513,087 sold to 11c at closing auction.

The OBV remains buying up to a price, not selling. That said there is no argumaent "supply" was forthcoming and controlled as you correctly indicated. Apart from the single sell, I saw nothing in the way of any dumping.

I agree with the sideways consolidation pattern from here is likely (and healthy) and said as much in my posted chart. The 6M sell was a definite party pooper today, if not for that PEN was definitely looking at breaking 12c today.

The biggest difference I saw today to what happened in 2007, was that willing buyers continued to step up and many of them. In 2007 at this stage they vanished, literally.

 

[barney]

Great post barney and although I agree with what you state in general this I don't "the major volume was sold at 12 cents".

It factor the mojorty of trading today was buying up to 12c.

May have been a Freudian slip Hang

You are quite right to state that the early buying was buying, which is no doubt correct ......

I was viewing the overall day slightly on the negative side because the eventual seller/sellers who were sitting on the sidelines, were in control of the days outcome, once they started hitting the market, as the buyers were exhausted at that stage ....... and to be honest, I think they have a bit more supply before completion ...

however ...

I agree with the sideways consolidation pattern from here is likely (and healthy) and said as much in my posted chart. The 6M sell was a definite party pooper today, if not for that PEN was definitely looking at breaking 12c today.

The biggest difference I saw today to what happened in 2007, was that willing buyers continued to step up and many of them. In 2007 at this stage they vanished, literally.

We totally agree on the bigger picture

There has to be days of selling at this stage, and it would actually be "unhealthy" if there wasn't. The support under the current price is brilliant ...... If this was to retrace back to 10 cents, I reckon we would all get trampled in the stampede

I won't be surprised to see it nudge 10.5 on a push lower if the pro's have a couple of days off, but if the general market stays steady, and we get some healthy consolidation, I have a next fib projection of 14.5 cents !! ie. Within a day or two after we get a daily close above 11.5 !! ..... iie. Looks good

Cheers.

 

[tech/a]

Looks weak to me
Didn't go on with it and had every opportunity
Its done its dash in the near term.

Consolidation is the best out come ----8.4c or worse the worst!

H/S buying more at 11c?

 

[ColB]

81 buyers for 6,804,042 @ 0.11c
8 Sellers for 7,576,329 @ 11.5c

I don't have full market depth to see the breakdown of the 8 sellers but obviously it comprises of some significant disposal by few holders. Was travelling quite nicely until tech put the moz on us

To bail out, take a nice profit and buy back in at 10.5c????

 

[barney]

Looks weak to me
Didn't go on with it and had every opportunity
Its done its dash in the near term.

Consolidation is the best out come ----8.4c or worse the worst!

H/S buying more at 11c?

Hi tech, I wasn't overly keen on the large sellers happily sitting in the queue at 11.5 today i must admit, but they were orderly, so nothing out of the ordinary in the pipeline just yet.

The acid test comes if any large holders/investors decide to cash in their chips.

Personally, I see most large holders/traders out by 20th 21st January .... Some back in on 31st January at 9.5 cents ..... and most of them out last friday and today, so for the Sp to drop to the mid 8's there would have to be a large sentiment shift in the stock. It will firstly have to break 10 cents to test that scenario.

Perhaps we could have a friendly little wager for the sheer fun of it ....

I reckon we will touch 14 cents before we touch 8.4 cents ......

Say 5 x $2 Lottery tickets, and we share the proceeds when I win

 

[mattryanshares]

Techs been wrong many times in this thread.
1st it was going to 8.5 cents. last week.
Then it wasnt going to break 11.5 cents.
Then it was a good looking chart and he was in the que.
Then he was in and out due to no volume or something?? maybe for a loss???
Now he is predicting possibly below 8 cents again????


Nothing personel mate and i really do enjoy your analysis just as long as you keep getting it wrong!!!
Especially the last one!!! c:

 

[tech/a]

Techs been wrong many times in this thread.
1st it was going to 8.5 cents. last week.
Then it wasnt going to break 11.5 cents.
Then it was a good looking chart and he was in the que.
Then he was in and out due to no volume or something?? maybe for a loss???
Now he is predicting possibly below 8 cents again????


Nothing personel mate and i really do enjoy your analysis just as long as you keep getting it wrong!!!
Especially the last one!!! c:

Looks weak to me
Didn't go on with it and had every opportunity
Its done its dash in the near term.

Consolidation is the best out come ----8.4c or worse the worst!

Hasn't been WRONG yet.

You and those that think its wrong Dont understand tech analysis.

T/A isn't about being right its about identifying opportunity and putting yourself in front of it.
Your expecting longterm analysis when I'm looking at almost daily analysis. If like yesterday it doesn't pan out immediately then I remove myself from the market and wait. As I have said I may join you IF the analysis confirms your view---after all I will then have to pay for some lottery tickets!!

There has been and still are various technical scenarios that could play out.
Since I have presented a technical view the stock price has gone as low as 9.5c and as high as 12c. its now at 11c hardly definitive price action for bullish OR bearish analysis either fundamental OR technical.

I have and will present BOTH possibilities not ONE as our Fundamental friends are doing.

Until this makes a profit there is only speculation holding this stock together and its in the interest of the company AND its share holders to keep the positive vibe pumped to the max.
H/S by his own admission has a substantial holding---so every time I see a long convoluted post on PEN fundamental information regardless of direction of stock movement---the cynic in me cant help but wonder about "agendas".

I'm not the only one on this thread that doesn't feel PEN will just keep rising to $10
Its not going to crash and burn either.

The analysis is presented as it is seen. If your really keen on the stock at 11c---buy your heart out.

Oh and your on with the lottery tickets.