PENC.ob Showing Promise For Wednesday Trading. A Move Past $1.05 Would Be A Very Bullish Sign
PENC.ob stormed out of the gates on Tuesday morning moving up quickly from its opening price of $.97 to an intra-day high of $1.06.After that, the stock continued to dip minutely and then rise back up to test the $1.05 level a few times but just couldn't seem to break through. When all was said and done, PENC.ob ended up closing green at $1.045 for gains of 7.7%.
If PENC.ob pushes off the blocks on Wednesday as it did the day before, the stock should finally bust through $1.05 and then $1.06, which would be a very bullish indication of what's in store for the rest of the trading session. I can then see PENC.ob charging up even higher into the $1.08 - $1.10 range if the aforementioned resistance levels are broken and we see volume at least in the 50K to 100K range.
However, if PENC.ob happens to begin slipping back into sub-dollar range as it has the past 4 trading sessions, you may want to rethink your strategy here as the stock has not wanted to go lower than $.94 recently and move that far south could spell a loss for many. You can get back in on the way up if this unfortunately happens to be the case, but it doesn't seem like many people are in here under $.94. Good luck everybody.
Labels: OTCBB: PENC, PENC, PENC.ob, Pinnacle Energy, Pinnacle Energy Corp
posted by "Staff" at
4:00 AM
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