PEN - Peninsula Energy

[$20shoes]

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 -

Of course! That one MA crossed another had no influence on the SP. That the SP had an effect on your squiggly lines - that i accept.

 

[Chalea]

Of course! That one MA crossed another had no influence on the SP. That the SP had an effect on your squiggly lines - that i accept.

Traders sell, lines cross, many more traders sell, where's the DFS?

 

[tech/a]

Nothing is happening here other than lack of demand.
Sellers ARENT rushing to sell in droves because this or that indicator shows this has happened.
If that WAS SO youd see a discernible rise in volume following an event---simply--YOU DONT

This is all the analysis you need.

The real analysis is at turns.
(I think you'll see mine was at 12 c).

There it is #1004 post and #1128

That ll sort the kiddies out!

CLICK TO ENLARGE.



See you back here when it shows signs of pulling up.
That will be high volume exhaustion I suspect.
OR a longer drawn out period of nothing.
For a really boring DOG it gets a lot of bandwidth!

 

[Chalea]

This is all the analysis you need.

Look for a long term bullish divergence confirmed by a bullish MACD center line cross, (the time to buy)...
Will take a while...

Until then it's just a lower Bollinger band hugging downtrend...

Click

 

[Chalea]

Nothing is happening here other than lack of demand.

Downtrend?

Sellers ARENT rushing to sell in droves because this or that indicator shows this has happened.

Agreed, price is still falling though...

If that WAS SO youd see a discernible rise in volume following an event---simply--YOU DONT

YOU DID! - Fukushima - see chart below...
Check the 07/08 crash...Not much volume but it still hit one cent...

See you back here when it shows signs of pulling up.

Not likely...

That will be high volume exhaustion I suspect.
OR a longer drawn out period of nothing.

Or a repeat of 07/08...zzzzzzzz

For a really boring DOG it gets a lot of bandwidth!

Agreed. Do you believe PEN management should answer questions re the 'DFS in Jan 11' statement?
Many would have bought because of it...still waiting...:bad::bad::bad::bad::bad:

 

[Chalea]

:error::error::error:

Zoom in for a clearer view of the long term trend line's current support level @ 5.1c
View attachment 44392

The long term trend line support was in fact @ 5.15c:whip

Which means the uptrend has ended...:emp:

Click chart...

:iagree:

 

[TheAbyss]

:error::error::error:

The long term trend line support was in fact @ 5.15c:whip

Which means the uptrend has ended...:emp:

Click chart...
View attachment 44425
:iagree:

You do realise that PEN is behaving no different to a raft of other stocks at the moment? I think you could overlay your lines onto most stocks as we are on the slope towards some pretty decent falls.

What chance you apply your charts to XJO, DOW, SP 500 and work out when the XJO will hit 3500 or will it hit 3100?. There are a lot more important things going on in world financial markets that matter a whole lot more than this stock.

If you must continue your one man war v PEN perhaps you can explain your total dedication (which is quite impressive) to alerting forums across the nation against having anything to do with PEN.

 

[Chalea]

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.
View attachment 44355

The short term hourly chart shows two patterns with two possible targets.

Bollinger band squeeze means a trend is about to start.

Although the indicators again confirm, this week the MACD hasn't crossed, (has only turned down), so the signal isn't as strong as last Sunday.

However, the same set up occurred two Tuesdays ago, (circled), with bearish results.

That said, I'm leaning towards the 4.8c short term target.

Note - if 4.8c doesn't hold, then a repeat of the price action into the rectangle, (from the previous Friday's 5.8c peak), wouldn't surprise, giving a target of...

5.0 - (5.8 - 5.0) = 4.2c


Click chart

corn:

 

[Chalea]

If the MACD falls through it's signal line on Monday the SP will be walloped
View attachment 44405

Another Monday MACD bearish cross...

Short term target = 4.2c (yesterday's chart)

Gap @ 4.0c, click chart

 

[Karlos68]

The long term trend line support was in fact @ 5.15c:whip

Which means the uptrend has ended...:emp:

Click chart...
View attachment 44425
:iagree:

Hi Chalea....Your trendline looks highly suspicious of my "Trend line C" from a little while ago....Interesting how your trendline differenturates from "BigCharts" (of this trendline in near future) which shows my low as possibly being around mid 4 cent mark. Guess it really depends on chart display

I note I depicted a break in downtrend of the lower highs in Spot Price of U308 a little while ago. Yourself displayed a downtrendline projecting rather highly above lower highs with plenty of air underneath on chart. An update of your vision of this chart would be pleasantly appreciated.

Chalea.....Any T/A views by yourself would be much applauded by me. I have recently looked back to view some projections on this forum of PEN moving forward earlier in the year which failed to achieve higher highs.....Now that it appears(IMO) we are in capitulation mode, it is only so right for your views to be taken with due praise as to why you may feel lower lows are upon us.


PS I have noted by Tech/A ASX further falls possibly is upon us.

 

[Karlos68]

Downtrend?

I have just viewed "AussieBulls.Com"

They have a "Buy Confirmed" recommendation on PEN.

PS Very commendable to yourself Chalea on replies to everyone on this forum and your commitment to regular updates on the status of PEN. I note you have stated you shall leave when the downtrend has broken...... Why?....If you feel your presence here is to keep folk honest solely for the sake of it, then why not stay and comment (in your opinion) on an uptrend till it is showing signs of being broken?

 

[Chalea]

Chalea.....Any T/A views by yourself would be much applauded by me.

Thank you Karlos ...

I note I depicted a break in downtrend of the lower highs in Spot Price of U308 a little while ago. Yourself displayed a downtrendline projecting rather highly above lower highs with plenty of air underneath on chart. An update of your vision of this chart would be pleasantly appreciated.

With pleasure...the downtrend appears to be intact...

I have recently looked back to view some projections on this forum of PEN moving forward earlier in the year which failed to achieve higher highs.....Now that it appears(IMO) we are in capitulation mode, it is only so right for your views to be taken with due praise as to why you may feel lower lows are upon us.

Please note my signature. I humbly believe PEN is currently three stages before capitulation mode...

 

[Chalea]

I have just viewed "AussieBulls.Com"
They have a "Buy Confirmed" recommendation on PEN.

I wonder if today's BEARISH ENGULFING pattern will alter that recommendation Karlos?

PS Very commendable to yourself Chalea on replies to everyone on this forum and your commitment to regular updates on the status of PEN. I note you have stated you shall leave when the downtrend has broken...... Why?....If you feel your presence here is to keep folk honest solely for the sake of it, then why not stay and comment (in your opinion) on an uptrend till it is showing signs of being broken?

This stock will take many months to pull out of it's recent pump/dump & form a base prior to a meaningful uptrend. The multiple long term charts posted here back that up.

I will update them "imminently"...

PS...Please remember that once support is broken it is common for that level to be tested and confirmed as resistance, ie 5.0c

Regards

 

[Chalea]

...the downtrend appears to be intact...
View attachment 44502

Always pays to check the big picture...
:iagree:

Downtrend @ $66

 

[Chalea]

I have just viewed "AussieBulls.Com"
They have a "Buy Confirmed" recommendation on PEN.

Not any more...:shake:




Again, refer to the longer term...



corn:

 

[Chalea]

...Guess it really depends on chart display
Chalea.....Any T/A views by yourself would be much applauded by me.

Karlos
"High points and low points appear to line up better for trend lines when prices are displayed using a semi-log scale. This is especially true when long-term trend lines are being drawn or when there is a large change in price"
ie 1200% Link

Timing is everything...click here
Nine months ago PEN announced their DFS was due in January, bs...which pumped the SP through 6c resistance to 15.5c

Last weekend I announced that the long term uptrend had ended...click here

Lo and behold, the very next trading day PEN announce their aborted DFS...

IMO, this announcement confirms my uptrend break - see chart below

The new "Expanded DFS" will be released "as soon as completed"...

When will that be? :dunno:...imminently?

All I know now is that PEN is, very soon, about to announce argueably the most important anouncement apart from the Permit to Mine.

Charts or no charts, the DFS and decision to mine will come out. it is now 12 days since I was told PEN was planing to have the DFS out within 10 -15 days.

This may. or may not put a rocket up the sp. However I truly expect the announcement to be very positive and maybe even include something unexpected.
"A $15,000,000 share placement to USA based NuCore Energy at a Premium to
VWAP. The 10 day VWAP pricing period commences after the release of the Lance Project DFS.

The Placement is priced at a 50% premium to the 10 day volume weighted average price (VWAP) in the period immediately following publication of the Company’s Definitive Feasibility Study (DFS) source: PEN announcement"

At the current price Nucore will pay 11.5c per PEN share....what will the final price actually be?
In the meantime the charts provide some light entertainment....as you were...

Question..."what will the final price actually be?"

Answer... Updated charts will be posted "as soon as completed"...

 

[Chalea]

Charts or no charts, the DFS and decision to mine will come out. it is now 12 days since I was told PEN was planing to have the DFS out within 10 -15 days.

"A share placement to USA based NuCore Energy at a Premium to
VWAP. The 10 day VWAP pricing period commences after the release of the Lance Project DFS.

The Placement is priced at a 50% premium to the 10 day volume weighted average price (VWAP) in the period immediately following publication of the Company’s Definitive Feasibility Study (DFS) source: PEN announcement"

At the current price Nucore will pay 11.5c per PEN share....what will the final price actually be?

"what will the final price actually be"?

Seeing as PEN is going with an "Expanded DFS", will the NuCore $15,000,000 deal's fine-print need expanding?

The weekly chart has the closer target of 3.5c, (first mentioned here), so I'll stick with it for now...

"Bearish rectangles appear in downtrends and typically resolve themselves to the downside.
If the rectangle is large, the expected price movement is approximately equal to the height of the rectangle." Link

3.5c is in the middle of the 3-4c Support Zone, underneath the 15/10/10 unfilled gap @ 4.0c

"There is an old saying that the market abhors a vacuum and all gaps will be filled." Link



The daily chart's bearish continuation pennant's target, (first mentioned here), still stands, but for now I'd call it more of a capitulation target...
:iagree:

"Bearish pennants appear in the middle of large drops or immediately after a stock has broken down from a substantial rally.
The price action prior to the pennant formation can be used as a guide in predicting the price movement when the stock breaks down."...Link

 

[Chalea]

Always pays to check the big picture... Downtrend @ $66
View attachment 44506

Here's the weekly uranium chart with it's long term analysis...Link



Mov Avg 3 lines Indicator: Long Term: The market is EXTREMELY BEARISH. Everything in this indicator is pointing to lower prices :bad:

Momentum Indicator: The long term trend, based on a 45 bar moving average, is DOWN. :bad:

Rate of change Indicator: The long term trend, based on a 45 bar moving average, is DOWN. :bad:

MACD Indicator: The long term trend, based on a 45 bar moving average, is DOWN. :bad:

Volume Indicator: The long term market trend, based on a 45 bar moving average, is DOWN. :bad:

Stochastic: The long term trend is DOWN. :bad:

Remember James Dines' Aug. 18, 2011 quote?

"…Totally despised uranium stocks should make at least a temporary low in the next few weeks, believe the unbelievable or not."

Link

 

[Chalea]

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

Big week for Julius Malema coming up...

"Next week he could tear apart South Africa's ruling party, possibly bringing about the downfall of the president Jacob Zuma, in a battle for the soul of the nation which could ripple through the continent and beyond.

In the days before they fell out, Zuma described him as a future president of South Africa. But now the populist firebrand – who has won wide support among the poor with his calls to nationalise the mines and seize white-owned land – is to appear before the ANC's disciplinary committee charged with bringing the party into disrepute.

Zuma's authority is on the line. If he fails, the nation which has so successfully made a peaceful transition from white to black rule could be plunged into political chaos.

Malema is a throwback to the worst stereotypes of African leaders. He is charismatic, populist and reckless. He has fits of temper, will not tolerate dissent and manipulates elections. He is shamelessly racist. He defends the human rights record of Robert Mugabe in Zimbabwe..."

Link

 

[tech/a]

Hangseng
You'd be in the RED now or very close to it by my calcs