MicroStockProfit

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.

PENC.OB is testing the $1.06 level again in early trading and the stock has already traded more than 7K shares just 15 minutes into the day.

Despite analyst concerns that decreased energy demand will hold down energy prices going forward, PENC.OB is such an emerging growth opportunity, that even if prices to continue to dip, we could still see some signficnat improvement out of the company both from an operational/financial and stock market perspective.

PENC.OB just recently acquired gas and oil producing wells in the U.S. and is poised to help decrease America’s reliance on foreign oil if they can start mass producing. Again, if we can punch through recent resistance at $1.06, I think that’s a very bullish sign of a run up at least to around $1.08 – $1.10.

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.

Despite oil prices tobogganing towards $100 per barrel this morning and U.S. fuel demand being at a 5-yr. low, Pinnacle Energy Corporation (PENC.OB) is up nearly 10%, or $.08 in early trading. (5-day chart to right)

3-day volume was up more than 45% at the end of last week and the stock has already traded 11,800 shares this morning. If PENC.OB can break the $1.10 level in early trading, we could see a move back into the $1.20 range, short term.

With the market reacting negatively to the U.S. government’s proposed $700 billion rescue plan and most of my portfolio in the red thus far today, I’ll be watching PENC.OB by the minute, despite the fact that oil industry is taking a digger this morning.

I was quite optimistic that Pinnacle Energy Corp. (PENC.OB) would fight the tide of negative macro-economical trends today and test the $1.10 level after hitting an intra-day high of $1.08 early on in trading. Unfortunately, that’s as high as we went before bottoming out at $.97.

A 3% dip isn’t too bad given the fact that the DOW dropped nearly 800 points today – it’s biggest 1-day nosedive ever – and also that oil had one of its worst days ever.

I’ll be watching PENC.OB closely at market open tomorrow because despite the stock’s 6 consecutive red closes, volume has been heating up.