How the (PEN) price action is used to our Advantage
March 24, 2024, 21:54 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for PEN
- Buy PEN slightly over 184.47 target 225.15 stop loss @ 183.94 Details
The technical summary data tells us to buy PEN near 184.47 with an upside target of 225.15. This data also tells us to set a stop loss @ 183.94 to protect against excessive loss in case the stock begins to move against the trade. 184.47 is the first level of support below 224.74 , and by rule, any test of support is a buy signal. In this case, support 184.47 would be being tested, so a buy signal would exist.
- Short PEN slightly under 225.15, target 184.47, stop loss @ 225.8 Details
The technical summary data is suggesting a short of PEN as it gets near 225.15 with a downside target of 184.47. We should have a stop loss in place at 225.8though. 225.15 is the first level of resistance above 224.74, and by rule, any test of resistance is a short signal. In this case, if resistance 225.15 is being tested, so a short signal would exist.
Swing Trading Plans for PEN
- Buy PEN slightly over 225.15, target 230.73, Stop Loss @ 224.5 Details
If 225.15 begins to break higher, the technical summary data tells us to buy PEN just slightly over 225.15, with an upside target of 230.73. The data also tells us to set a stop loss @ 224.5 in case the stock turns against the trade. 225.15 is the first level of resistance above 224.74, and by rule, any break above resistance is a buy signal. In this case, 225.15, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short PEN slightly near 225.15, target 217.96, Stop Loss @ 225.8. Details
The technical summary data is suggesting a short of PEN if it tests 225.15 with a downside target of 217.96. We should have a stop loss in place at 225.8 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 225.15, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for PEN
- Buy PEN slightly over 225.15, target 230.73, Stop Loss @ 224.62 Details
If 225.15 begins to break higher, the technical summary data tells us to buy PEN just slightly over 225.15, with an upside target of 230.73. The data also tells us to set a stop loss @ 224.62 in case the stock turns against the trade. 225.15 is the first level of resistance above 224.74, and by rule, any break above resistance is a buy signal. In this case, 225.15, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short PEN slightly near 225.15, target 222.82, Stop Loss @ 225.68. Details
The technical summary data is suggesting a short of PEN if it tests 225.15 with a downside target of 222.82. We should have a stop loss in place at 225.68 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 225.15, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Penumbra Inc. (PEN) available here: PEN.
PEN Ratings for March 24:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Weak |
Weak |
| P1 |
0 |
0 |
184.47 |
| P2 |
222.82 |
217.96 |
225.15 |
| P3 |
230.95 |
230.73 |
265.43 |
AI Generated Signals for PEN
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Penumbra Inc. (NYSE: PEN) data table below can help you with price action, and we have more details too. Trading plans for PEN are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for PEN:
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