PEN - Peninsula Energy

[Ubershrewd]

Probably Maortians...:aliena:

Were you aware of the Sovereign risk associated with PEN's South African Karoo project?

"A SENIOR South African government adviser says investor worries about nationalisation of the mining industry are justified.

Sandile Noxgina, a former director-general of mines and now adviser to Mines Minister Susan Shabangu, said it would take almost a year for the African National Congress government to decide on nationalisation.

Some have played down talk of nationalisation, which is supported by the hardline ANC Youth League, but Mr Noxgina disagrees.

The concern "is justified", he said yesterday at the Africa Downunder mining conference in Perth."

Link

"Malema has no direct policy-making power but is one of the ANC's most popular politicians and has won admiration among millions of poor South Africans and alarmed investors with his calls to nationalise the mines.

Some in South Africa fear nationalisation could bankrupt the country and destroy its credibility among investors. But the idea resonates with the country's poor black majority who see it as a way to spread the wealth from a sector that grew powerful along with white-minority apartheid rule"

Link

I thought that whole saga is over now, but I haven't been keeping up with SA news as much.

 

[Chalea]

Agree that its gonna break out soon one way or another.

Would you agree that historically, once PEN had a long term bearish MACD cross over and a trend line break then price fell to where the trend started, or thereabouts?

Would you agree that the 5.3c support level on the daily chart's bearish pennant is very close to the current support on the long term trend line?

Click chart

 

[Chalea]

Would you agree that the 5.3c support level on the daily chart's bearish pennant is very close to the current support on the long term trend line?
View attachment 44331

The hourly chart shows PEN's current neutral rectangle pattern, (5.4c support, 5.8c resistance).

See chart for the two measured targets.

Given the confirming, (first time in ten days), bearish crosses and Bollinger band squeeze, I would be inclined to say the neutral pattern is about to end with a bearish break out.

Click chart to enlarge

 

[hangseng]

I thought that whole saga is over now, but I haven't been keeping up with SA news as much.

His own party isn't happy with him and he is facing charges of fraud and corruption added to this.

Suffice to say if this all proceeds this zealot is finished in politics and the ridiculous issue of nationalism along with it. Eventually all zealots fall on their sword...

"South Africa's firebrand Julius Malema loses appeal against ANC disciplinary
Julius Malema, the embattled head of South Africa's Youth League, has lost an appeal for charges against him of sowing divisions in the ruling party to be dropped.

Mr Malema appealed on the grounds that the charges were "politically motivated" and an attempt at silencing his increasingly vehement calls for mine and bank nationalisation and forced land reform.

But the ANC's disciplinary committee ruled yesterday that he should face "trial" by senior members of the party for his misdemeanours, which included criticising President Jacob Zuma and calling for regime change in neighbouring Botswana.

It also rejected his request for several members of the committee to be removed, including Susan Shabangu, the Mining Minister who has responded unenthusiastically to Mr Malema's nationalistion call.

If found guilty of the charges, Mr Malema could be cast into the political wilderness, allowing President Zuma to run for a second term as party president in 2012 and the country's president in 2014 unhindered by a political rival backed by the influential youth leader. "
source: http://www.telegraph.co.uk/news/wor...ma-loses-appeal-against-ANC-disciplinary.html

 

[Chalea]

His own party isn't happy with him...

Unlike him, his own party isn't very popular...

"In news from South Africa, last week’s riots in front of ANC headquarters in Johannesburg are fueling many questions, many fears. ANC Youth League leader, the ultra controversial Julius Malema, obviously has the ear of millions of South Africans. For the current administration in Cape Town, the days to come appear crucial.

“Who cares if a party that has failed gets a bloody nose?” This has to be what those without hope, those with not a prayer, the tens of thousands eking out existence still – it has to be their voice...

...When ANC leader Kenny Maphatsoe uttered his condemnation of rioters, calling their actions the “seeds of civil war” – well, the end of that sentence is clear..."

Link

and he is facing charges of fraud and corruption added to this.

They can't afford the investigation!

"THE Public Protector has had to stall several corruption probes, including the investigations into a company linked to ANC Youth League President Julius Malema. Public Protector Thuli Madonsela confirmed that officials from her office met with the National Treasury this week to apply for R30 million in emergency funding for salaries and operational expenses for more investigators."

Link

 

[Chalea]

Would you agree that the 5.3c support level on the daily chart's bearish pennant is very close to the current support on the long term trend line?
View attachment 44331

The bearish continuation pennant broke out today.

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

Link

Subtracting the flagpole from the breakout point gives a target of 1.9c


Click chart to enlarge

 

[Ubershrewd]

The bearish continuation pennant broke out today.

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

Link

Subtracting the flagpole from the breakout point gives a target of 1.9c


Click chart to enlarge
View attachment 44377

Chalea, should we then see a surge in volume tomorrow accompanying a big SP drop?

 

[Chalea]

Chalea, should we then see a surge in volume tomorrow accompanying a big SP drop?

Ubershrewd

Check the volume after the recent bearish wedge break out...
No idea if there'll be a "big SP drop" tomorrow, unless 4.9c support is taken out...

"Downside breaks do not have the same volume requirement as their bullish counterparts. Like other bearish breaks, there often is a delayed volume surge."

 

[tech/a]

Chalea, should we then see a surge in volume tomorrow accompanying a big SP drop?

I wouldn't pay too much attention to our amateur analyst
He's not that good at it.

 

[Chalea]

I wouldn't pay too much attention to our amateur analyst
He's not that good at it.

Short memory.....Check your/my calls over the last few weeks!

If you have bought (Or bought more) at 6.5-7.3c as indicated in the technical signal at post#1544 then who cares just sit and forget.

To suggest that price respects a displaced M/A is pure lunacy.

I beg to differ...

How do you explain the emphatic almost bearish engulfing reversal candlestick this week.

Every man and his dog was calling "breakout" last week!

The bearish rising wedge has broken out instead...

Target = 4.9c approximately.

Weekly RSI didn't confirm last week's breakout, instead showing a bearish respect of it's center line.

The over bought slow stochastic confirms the wedge break out by showing a bearish signal line cross.

In my humble opinion...

 

[Chalea]

"Uranium spot prices to fall, says RCR

PERTH (miningweekly.com) − The uranium spot price was expected to decline over the next three to six months...

“The sector has continued to come under selling pressure over the past few months, not only on concerns of utility surplus dispositions, but broader equity market concerns as well, in particular the economic outlook for the US and sovereign debt issues in Europe,” said RCR MD John Wilson.

...RCR predicted that the spot price for uranium could trade as low as $45.95/lb..."

Link

 

[Chalea]

Would you agree that historically, once PEN had a long term bearish MACD cross over and a trend line break then price fell to where the trend started, or thereabouts?

Would you agree that the 5.3c support level on the daily chart's bearish pennant is very close to the current support on the long term trend line?

Click chart
View attachment 44331

Zoom in for a clearer view of the long term trend line's current support level @ 5.1c

Click chart to expand

 

[Chalea]

The bearish continuation pennant broke out today.

Subtracting the flagpole from the breakout point gives a target of 1.9c

View attachment 44377

Bearish MACD cross overs are a regular occurrence.

It appears that another one is "imminent"...

Chart will expand if clicked...

corn:

 

[Ubershrewd]

I think tomorrow brings a good day for PEN. This is based on analysis of my gut feeling, surely can't beat that.

 

[Chalea]

I think tomorrow brings a good day for PEN. This is based on analysis of my gut feeling, surely can't beat that.

Bearish Slow Stochastic cross over late yesterday on the hourly chart...

 

[alexc2005]

Bearish Slow Stochastic cross over late yesterday on the hourly chart...

View attachment 44402

Are these charts actually any good?

or is it purely coincidence?

I tend to think if tech/a is critical of the charting method then there is flaws in it...

But seems to be right? I dunno..

 

[$20shoes]

Are these charts actually any good?

or is it purely coincidence?

I tend to think if tech/a is critical of the charting method then there is flaws in it...

But seems to be right? I dunno..

The problem with this analysis is that it's proven in hindsight. It's a lagging indicator that simply shows the closing price over a specified price range which is then smoothed. Though, we're oscillators can come in handy is showing divergence.
The indicator should not be used as the leading tool in this example. The indicator is waiting for the next price action before it can plot it's next point. It indicates where the price HAS BEEN relative to its range.

 

[Chalea]

The problem with this analysis is that it's proven in hindsight. It's a lagging indicator that simply shows the closing price over a specified price range which is then smoothed. Though, we're oscillators can come in handy is showing divergence.
The indicator should not be used as the leading tool in this example. The indicator is waiting for the next price action before it can plot it's next point. It indicates where the price HAS BEEN relative to its range.
View attachment 44403

Hello $20shoes

There is no problem with this analysis because there was no analysis, purely a statement of fact!

Do you remember our previous interaction? It included some basic analysis. Note the date -

If the MACD falls through it's signal line on Monday the SP will be walloped

If the price falls resulting in the MACD crossing down through it's signal line on Monday there will literally be no influence at all on the share price. Buyers and sellers will say look at your MAs, remark "how cute" and continue exchanging parcels of shares at fair value for any given moment in time.

And here's the chart -

 

[Chalea]

Are these charts actually any good?

or is it purely coincidence?

I tend to think if tech/a is critical of the charting method then there is flaws in it...

But seems to be right? I dunno..

Hello alexc2005

I would have thought that entering the debate @ 8.2c, calling for 4.9c and achieving it was more than coincidence...:

 

[Chalea]

"Uranium spot prices to fall, says RCR...

...RCR predicted that the spot price for uranium could trade as low as $45.95/lb..."

Link

"Recent rally in spot uranium prices may have stalled, analysts say"...

Link