PENC.ob Breaks Through Resistance at $1.06, Reaches Daily High of $1.15. Look out Tomorrow!
As I had hoped early on this morning, PENC.ob finally broke through resistance at 1.06 and blasted through the $1.08 - $1.10 range to a closing print of $1.15.My estimate that it would have taken between 50K to 100K share volume to get there was just about right.
PENC.ob traded more than 50K shares today and appreciated significantly from yesterday's closing price of $.97.
We saw some very bullish momentum in PENC.ob today, with the stock gaining 15% on fairly thin volume. The ask looked firm towards the end of the day at $1.15, so I'm looking for a move higher once trading commences on Thursday. It doesn't look like too many sellers are present at $1.15. So, I like the chance of PENC.ob reaching $1.20 or higher tomorrow.
Labels: OTCBB: PENC, PENC, PENC.ob, Pinnacle Energy, Pinnacle Energy Corp
posted by "Staff" at
12:43 PM
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