PEN - Peninsula Energy

[Chalea]

China has few moles and agents in Australia who are constantly down ramping uranium prices and sentiment. So that China can buy few uranium mines in Australia and world wide at cheap prices.

You can not be serious! What is your opinion on chemtrails?

They're spread by Santa's sled!!!:xmaswave

"Nobody knows about it yet, be the first to enter this multibagger, before the Chinese come shopping...

...Also heard that Chinese are interested and should be hearing something within next few weeks...

...Santa is real you know!"

Link

"Chemtrail spraying seems to be heaviest and most constant over North America and most countries of western Europe. Some countries in Asia are being sprayed (Japan and Korea), but the greatest exception to any chemtrail activity whatsover is China.
The Chinese are being spared completely because China is being groomed by the NWO to replace the United States as the leading nation of the world, both economically and militarily."

Link

 

[barney]

:

Do you think this is funny?

Chalea, What I found funny was actually your sense of humour..... You used a picture and no words to make your point .... I thought that was clever ...... See, not everybody here hates you:

Seriously, many of your points are perfectly rational, and your price projections may or may not eventuate ...... but its up to the individual trader to play it as he sees it.

My honest opinion is that like most Uranium based stocks, PEN has some uphill battles to deal with, but, if I had to pick the most likely Uranium Junior to survive and prosper in the future, this would be it.

ps. If that is you in the above picture ... I see potential problems developing in the future:

 

[NewTrade]

Chemtrails? NWO?

Remove the tin hats and get back to projections!

 

[Chalea]

Remove the tin hats and get back to projections!

Okay, here goes...don't shoot the messenger...

Forget for a minute the short term rectangle, (target = 5.0c)
The bigger picture wedge, (targets = 4.4c/4.0c)
The unfilled gap @ 4.0c
The weekly chart's rectangle, (target = 3.5c)

Friday was pivotal. Traders were anticipating a MACD bullish cross following a RSI bullish divergence. Didn't happen...
The MACD didn't cross, but there's still hope?

Wrong! The RSI broke through it's support line dashing hope of the bullish divergence and price fell out of it's pennant.

Target = 2.0c (In my opinion, do your own research)

Link

Click

 

[Billyb]

Huh? Im no expert but I think you may be pulling at straws calling that a penant. The lower line is supposed to be drawn through the troughs..like in the textbook diagram that you posted. can someone with more tech knowledge confrim this?

 

[Chalea]

Okay, here goes...don't shoot the messenger...

Forget for a minute the short term rectangle, (target = 5.0c)
The bigger picture wedge, (targets = 4.4c/4.0c)
The unfilled gap @ 4.0c
The weekly chart's rectangle, (target = 3.5c)

Friday was pivotal. Traders were anticipating a MACD bullish cross following a RSI bullish divergence. Didn't happen...
The MACD didn't cross, but there's still hope?

Wrong! The RSI broke through it's support line dashing hope of the bullish divergence and price fell out of it's pennant.

Target = 2.0c (In my opinion, do your own research)

Link

Click
View attachment 44238

View attachment 44239

Have to clear up a couple of things -

"You need to explain how you have calculated your price targets.

If it's a technical target you need to explain, in TA terms, how you arrived at that particular price target. If it's a fundamental valuation, you also need to explain your reasoning in detail.

Your price targets seem to pulled out of thin air and seem to be intended just to provoke holders."

Dear Joe,

The attached description, (44239), thoroughly explains my target method.

I highlighted in green the following line & also provided a link -

"The expected price movement is approximately equal to the distance of the move into the pattern."

Refer to the green lines on the chart. The flagpole is measured from the start of the move to the start of the pattern. This pole is then subtracted from the pattern break down point.


"Huh? Im no expert but I think you may be pulling at straws calling that a penant. The lower line is supposed to be drawn through the troughs..like in the textbook diagram that you posted. can someone with more tech knowledge confrim this?"

Dear Billyb

The text book diagram shows a 'close' line chart. My method involves the use of candlesticks.

Regards
Chalea

 

[tothemax6]

Target = 2.0c

Yes because "the price fell out of its pennant!!".
Lets just keep a note of this and see if tech/a actually gets a win, instead of the usual incorrect prediction that disappears forgotten into the old thread pages.

My target: nowhere near 2.0c, reason: tech/a says otherwise.

 

[Chalea]

Yes because "the price fell out of its pennant!!".
Lets just keep a note of this and see if tech/a actually gets a win, instead of the usual incorrect prediction that disappears forgotten into the old thread pages.

My target: nowhere near 2.0c, reason: tech/a says otherwise.

Are you sure?
Allow me to quote...

"Always has alternate analysis possibilities even a fall to 2 c."

I see the fuss on Skyquake 's post

All analysis is valid until it fails
When it does the analyst looks at further analysis to support price action going forward.

That's why good traders have stop losses in place.

All analysis can do is supply an entry and exit setup.
The skill of the trader will determine performance.

PEN
Always has alternate analysis possibilities even a fall to 2 c.
Highly unlikely but nothing in trading is impossible.
If you live long enough you'll see many impossible outliers.
I still expect this to range to 8c now as this is strong resistance.
The current low is also likely to be tested.
If anyone is going to trade it then place a stop and a sell at the obvious and there you have it.

Trading isn't that hard.

 

[Chalea]

instead of the usual incorrect prediction that disappears forgotten into the old thread pages.

Check ALL my previous posts on this thread. I haven't forgotten them.

Have you forgotten what happened four years ago after the parabolic rise/collapse?

History appears to be repeating...

 

[So_Cynical]

It appears Silex is though...

View attachment 44235

Oh so the SLX SP has fallen so there thru...brilliant assessment, with the keen sense of financial perception that you have just displayed you must obviously work for a big bank or ratings agency.

i shall dump all my SLX stock immediately.

 

[Chalea]

Oh so the SLX SP has fallen so there thru...brilliant assessment, with the keen sense of financial perception that you have just displayed you must obviously work for a big bank or ratings agency.

i shall dump all my SLX stock immediately.

Heard a news report during the week.

Silex are closing their local solar panel manufacturing business.

Nuclear wasn't even mentioned...(embarrassed?)

Do you hold PEN?

 

[Sean K]

Have to clear up a couple of things -
View attachment 44240

IMO, it's actually not a very good pennant to be basing any reliable TA forecast on. TA being probabilities means that this is probably a very tenuous call. I don't think anyone has argued the merits of the technical formation. To me, it has none.

 

[Chalea]

IMO, it's actually not a very good pennant to be basing any reliable TA forecast on. TA being probabilities means that this is probably a very tenuous call. I don't think anyone has argued the merits of the technical formation. To me, it has none.

With respect, I called the MAK peak on another forum while you apparently kept holding for months/years hoping for news.

I repeat, with respect.

Please offer us your TA opinion, preferably on a chart

Regards

 

[So_Cynical]

Heard a news report during the week.

Silex are closing their local solar panel manufacturing business.

Yes i was reading that over the weekend...first time ive looked at SLX in maybe 3 years, the plant was uneconomical..apparently manufacturing in Australia is in a little trouble.

Nuclear wasn't even mentioned...(embarrassed?)

Embarrassed huh...gone straight thru to the keeper.

Do you hold PEN?

No...i have no interest at all in PEN however do not see the Nuclear industry as in decline or about to have a major reversal of fortune...Nuclear and in particular MSR technology, and Thorium has a great future.

 

[Sean K]

Please offer us your TA opinion, preferably on a chart

Sorry, I can't do any charts from this venue. What I mean is that the 'triangle' you call is tenuous. You can draw some lines that make a triangle, but there is not enough contacts on the bottom side over the length of the formation to make it have more probability. All I am saying is that your price target is based on a possibly incorrect presumption. ie, that it is a triangle on a pole. IMO, it's just not a very good triangle.

 

[Chalea]

No...i have no interest at all in PEN however do not see the Nuclear industry as in decline or about to have a major reversal of fortune...Nuclear and in particular MSR technology, and Thorium has a great future.

Maybe not, but those articles were posted to reinforce my view regarding the price of uranium, which is the sole driver behind price movements/the survival of uranium explorers/miners.

 

[Chalea]

...but there is not enough contacts on the bottom side over the length of the formation to make it have more probability. All I am saying is that your price target is based on a possibly incorrect presumption. ie, that it is a triangle on a pole. IMO, it's just not a very good triangle.

Fair enough. Many would require only two support touches before a breakout while I have drawn three, the last being a closing price.
Breakout wasn't ideal as it didn't occur between 50-75% of the pennant, BUT, it was confirmed by the RSI trend line break, (first touch in mid June, see earlier chart)

We shall see...

Click chart to expand

 

[hangseng]

Triangles, pics of chalea and his cat?????

PEN thread looks more like play school gone wrong and trying, yet failing misersbly at geometry.

Makes a mockery of the forum and ASF!

 

[Chalea]

Triangles, pics of chalea and his cat?????

PEN thread looks more like play school gone wrong and trying, yet failing misersbly at geometry.

Makes a mockery of the forum and ASF!

Please don't mock the triangle hangseng, as you see it is still in play...target =

Link

Please also note today's doji candlestick is remarkably similar to the one that preceded my inaugural post on ASF.

May I also highlight that price was unable to close above the moving average.

Remember the outcry when I dared to suggest that that was bearish when viewed on the weekly chart.

And who could forget that 5.9c is the old support/new resistance line for the weekly chart's rectangle...target = 3.5c

Link

 

[Chalea]

View attachment 44224
:fan

New week, another new low...:22_yikes: