PEN is currently in a descending wedge with bullish RSI divergence but still looks bearish on an intraday chart so should move down to support at around 0.07c. Look for a breakout and retest of upper trendline for entry or enter a small position on break of wedge, stoploss at last swing low move SL to BE when safe to do so. Good luck
Welcome to RiskMastery's Breakout Stocks - Stocks with breakout potential.
In this edition, we'll be looking at NASDAQ:CLRB ...
I believe this code is at a point of potential volatility.
If price can hold above $3.50 ... Bullish potential may be unlocked.
My key upside targets include:
- $5.70 (Conservative)
- $6.80 (Medium)
- $9.95 (Aggressive)
...
PEN - ASX
Lagging Uranium Miner.
Macro downwards channel.
Another parallel channel since 2011 with breakout in 2021.
Currently retesting diagonal breakout zone arrow -32% on day.
Volume seen high since 2021.
Target 0.40
PEN on the weekly looks like market structure could be making HH and HL's, has just hit the 100MA weekly average and could possibly bounce here for the next leg up.
PEN has been in a big prolonged downtrend for over 10 years, looks to be forming a bottom here and possibly starting new market structure as shown in the next chart. You can clearly see a huge increase in volume building and has now closed above the 20MA on the monthly chart. Uranium etf has had some big gains over the last few months helping to lift PEN.
Chart on a left is OTC ticker PENMF and chart on a right is PEN.ASX trading on Australian exchange. In my opinion OTC US exchange looks a lot stronger with potential Golden Cross. OTC Ichimoku CLoud is uptrend angle and ASX does not. Both charts RSI and Stoch in an uptrend direction. RSI is coming down from an overbought area to 70 level. Since we are in Uranium...
We broke the middle of the longterm downtrend channel with volume in December BUT left a gap at 0.090, so be careful of that.
Besides the gap, we bounced perfectly on the 66 Fib retracement.
Once we break the upper channel line of the downtrend and claim the upper line of the current channel, its fly time for Peninsula
Chart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 0.120 AUD
We are seeing a trend reversal on the weekly with a nice round arc & price approaching the high from April 2020. The $0.13c - $0.16c zone (yellow bar) is critical & needs to be surpassed with some strong bullish moves in order for the trend reversal to gain momentum. Watching
