When the Price of (PEN) Talks, People Listen

November 19, 2024, 05:54 am ET, BY Jeff W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for PEN

• Buy PEN near 218.72 target n/a stop loss @ 218.09. Details

The technical summary data tells us to buy PEN near 218.72, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 218.09 to protect against excessive loss in case the stock begins to move against the trade. 218.72 is the first level of support below 240.48, and by rule, any test of support is a buy signal. In this case, if support 218.72 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for PEN

• Buy PEN slightly over 242.35, target n/a, Stop Loss @ 241.65 Details

If 242.35 begins to break higher, the technical summary data tells us to buy PEN just slightly over 242.35, with an upside target of n/a. The data also tells us to set a stop loss @ 241.65 in case the stock turns against the trade. 242.35 is the first level of resistance above 240.48, and by rule, any break above resistance is a buy signal. In this case, 242.35, 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 242.35, target 235.62, Stop Loss @ 243.05. Details

The technical summary data is suggesting a short of PEN if it tests 242.35 with a downside target of 235.62. We should have a stop loss in place at 243.05 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, 242.35, 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 240.53, target 242.35, Stop Loss @ 239.97 Details

If 240.53 begins to break higher, the technical summary data tells us to buy PEN just slightly over 240.53, with an upside target of 242.35. The data also tells us to set a stop loss @ 239.97 in case the stock turns against the trade. 240.53 is the first level of resistance above 240.48, and by rule, any break above resistance is a buy signal. In this case, 240.53, 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 240.53, target 235.62, Stop Loss @ 241.09. Details

The technical summary data is suggesting a short of PEN if it tests 240.53 with a downside target of 235.62. We should have a stop loss in place at 241.09 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, 240.53, 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 November 19:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Weak
P1	0	0	160.42
P2	235.51	235.62	189.45
P3	240.53	242.35	218.72

AI Generated Signals for PEN

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Penumbra Inc. (NYSE: PEN) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for PEN can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.