PEN - Peninsula Energy

[notting]

It's a chart off!
Maybe the direction of the ASX will provide for an unfair ajudication.
Thanks for the lesson! I am a teachers nightmair!
Her der!

 

[Chalea]

Longer term...

Long term Coppock Indicator appears to have peaked...

Click

 

[Garpal Gumnut]

Chalea,

You remind me of a mate who takes motors apart, only he cannot put them back together again.

Every time he comes to a problem, he stops, and goes out and buys another shifter or spanner.

Throwing a Coppock in a PEN thread is not just overkill, it is indecent.

gg

 

[Ubershrewd]

Long term Coppock Indicator appears to have peaked...

Click
View attachment 44045

I think you've made your opinion quite clear Chalea. All this extra t/a is getting a little unnecessary.

I'm interested to see how Gus plays his next move, he's been very quiet recently. In the meantime I hope PEN holds 5.9c

 

[Chalea]

...I'm interested to see how Gus plays his next move, he's been very quiet recently.

I agree. Have read elsewhere he's been in the USA and Europe seeking funding for Karoo?

Speaking of Karoo, were you aware that "South Africa mine nationalization (is) ‘closest since end of apartheid’"

"Businessweek quotes a confidential report prepared for South Africa’s mining CEOs as saying South Africa’s ruling party is closer to some form of nationalization than at any other time since the end of apartheid. A government takeover of mines could choke investments in a country with metal and mineral reserves estimated at 2.5 trillion and lead to a collapse of the currency, the rand.

Firebrand Julius Malema (pictured), the leader of the youth wing of the ruling African National Congress which often acts as kingmaker in the country’s politics, is spearheading the campaign to seize mines, farms and banks."

 

[Chalea]

Longer term bearish continuation rectangle support @ 5.9c failed this week and now acts as resistance.

Target = 5.9 - (8.3 - 5.9) = 3.5c

Looks like the bearish rising wedge on the shorter term daily chart has broken out in the expected direction.

"The target for a reversal pattern is calculated from the highest peak to the lowest trough in the wedge pattern. The objective is calculated by projecting the target up/down from the breakout point."

Link

Measured target = approximately 4.4c

Click

 

[hangseng]

Chalea,

You remind me of a mate who takes motors apart, only he cannot put them back together again.

Every time he comes to a problem, he stops, and goes out and buys another shifter or spanner.

Throwing a Coppock in a PEN thread is not just overkill, it is indecent.

gg

LOL

Amidst all the guff out comes a pearler!

So where are we heading? Technically I have no bloody idea at the moment...actually throw in a little fundamentally "I have no bloody idea at the moment" and it is pretty close to the mark from me.

That said all I can but do is focus on what may be an past thoughts come to mind.

Many have forgotten, or possibly never knew, PEN has in place and "Application to Toll" and significant funds set aside for "aquisition/s". Also that Uranium One Inc. still has no export license in place that the new Russian owners ARMZ would be wanting in place...Will they divest this asset or push ahead regardless selling to US utilities? That is a question I am following very closely as it would be a game changer if what I and others are thinking offline actually occurs. Anyone hazard a guess as to what we are thinking may happen, or at least has a high probability and is definitely feasible (dare I use that word).

For now, I watch PEN get a right royal flogging once again and wait on the sidelines with a wad of cash at the ready.

So if some inciteful TA chap/gal would be so kind as to inform me of what lowly state PEN is going to hit I will set my alerts to be at the ready. Are we going to bounce of this area of the Fukashima lows...or will new, shall we say for want of a name, "ASF Coppock" lows be created?

Free party pie (with sauce) and a coke (cherry of course) for the Buffet who picks the new low.

No TA (apart from the bounce on the 9/8 on 30m volume), I will just throw in a guess as I don't like Cherry coke anyway so don't mind if I lose. I will run with a test of 5.5/5.6 then away we go to 8.5 for another test.

Any takers?

 

[Chalea]

Any takers?

Could someone inform hangseng of my now 3+ week old target of 3.5c, (cebbie?)...

Regarding uranium -

Fukushima low recently taken out, $50 to fall "imminently" going by the bearish MACD signal line cross confirmed by the bearish RSI center line cross...corn:

Click

 

[skc]

For now, I watch PEN get a right royal flogging once again and wait on the sidelines with a wad of cash at the ready.

Are you saying you've sold and watching from the sideline? Or have I mis-interpreted what you meant by sideline?

 

[tech/a]

I will run with a test of 5.5/5.6 then away we go to 8.5 for another test.

At this point thats as good as you'll get H/S.
There is no current analysis which points to anything else.
I dont call indicators of any form "analysis."
It would be wise simply to play what we can analyze NOW and if things alter appreciably --- re asses.
So if things play out there is a 50% + side and a stop at the low a 10% down side.
Take care of risk----
Not bad.

 

[Chalea]

Looks like the bearish rising wedge on the shorter term daily chart has broken out in the expected direction.

Measured target = approximately 4.4c
View attachment 44064

Bearish cross on the daily slow stochastic...

Click

 

[Chalea]

Looks like the bearish rising wedge on the shorter term daily chart has broken out in the expected direction.
Measured target = approximately 4.4c

The other target scenario, (approximately 4.0c), measures the move into the wedge and subtracts that from the breakdown point.

Volume isn't needed for confirmation and last year's unfilled gap = 4.0c

Click


Click



Link

 

[notting]

Even when I get charts they still seem to be a 50:50 bet.
Can they really be indicative in such short time frames?

 

[TheAbyss]

Even when I get charts they still seem to be a 50:50 bet.
Can they really be indicative in such short time frames?

And when you have the same poster putting up various charts pointing at different targets/ conjectures you have to wonder what use a chart is until we get market stability and companies are valued on what they are/ are not doing rather than broader conditions outside their own control.

Pretty easy to take potshots at most explorers etc at the moment with current conditions as most are looking undervalued however who is to say this isnt the new normal now?

Having said that, PEN best get that DFS released

 

[tech/a]

Even when I get charts they still seem to be a 50:50 bet.
Can they really be indicative in such short time frames?

Quality of analysis is the key.
You'll find the cream floats to the top.

Analysis isn't there to prove any bias.
Each chart stands on its own.

PEN's analysis is pretty simple although many make technical analysis (or what they believe technical analysis to be) more complex than it really is.

I can see NO REASON to alter the analysis I have already presented.

 

[Chalea]

PEN's analysis is pretty simple although many make technical analysis (or what they believe technical analysis to be) more complex than it really is.
View attachment 44088

With the greatest possible respect, how can you include the term "pretty simple" alongside an EWT chart?

"Penny shares usually do not have enough public participation to develop reliable wave patterns...
Do not make learning the many ways of how to trade stocks any more confusing than it has to be."

Link

 

[notting]

I can see NO REASON to alter the analysis I have already presented.

View attachment 44088

Took a punt just for fun .058. Sorry if it prejudices the course of the futures history.

 

[TheAbyss]

With the greatest possible respect, how can you include the term "pretty simple" alongside an EWT chart?

"Penny shares usually do not have enough public participation to develop reliable wave patterns...
Do not make learning the many ways of how to trade stocks any more confusing than it has to be."

Link

With knowledge comes simplicity.

 

[tech/a]

Hmm seems ignore doesnt cover quotes.

In answer.
If a counts not clear then I wont use it.
I agree some analysis isnt suited to Pennies.
However in this case it (Elliott) is appropriate in use on PEN.
Clearly the wave 3 reached extension and that is where it found good support.

Wave 5 may well play out lower than Wave 3

The simplicity of the analysis is then based around support and resistance.
Really that is all that is needed at this point---now that a good support base is in.
Everything else---until the analysis plays out----is NOISE

 

[Chalea]

The simplicity of the analysis is then based around support and resistance.

I agree wholeheartedly!!!

Really that is all that is needed at this point---now that a good support base is in.
Everything else---until the analysis plays out----is NOISE

This is where we diverge.
I have taken the liberty to draw what any reasonable/impartial observer would consider "a good support base".

Unfortunately PEN appears to have fallen beneath it...

In my humble opinion the recent 4.9c low will have to be retested, (and hold firm), before it can be considered "a good support base".