When the Price of (PEN) Talks, People Listen

September 21, 2024, 12:38 pm ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for PEN

• Buy PEN near 189.33 target 218.68 stop loss @ 188.78 Details

The technical summary data tells us to buy PEN near 189.33 with an upside target of 218.68. This data also tells us to set a stop loss @ 188.78 to protect against excessive loss in case the stock begins to move against the trade. 189.33 is the first level of support below 195 , and by rule, any test of support is a buy signal. In this case, support 189.33 is being tested, a buy signal would exist.

• Short PEN slightly under 218.68, target 189.33, stop loss @ 219.31 Details

The technical summary data is suggesting a short of PEN as it gets near 218.68 with a downside target of 189.33. We should have a stop loss in place at 219.31though. 218.68 is the first level of resistance above 195, and by rule, any test of resistance is a short signal. In this case, if resistance 218.68 is being tested, a short signal would exist.

Swing Trading Plans for PEN

• Buy PEN slightly over 199.07, target 218.68, Stop Loss @ 198.5 Details

If 199.07 begins to break higher, the technical summary data tells us to buy PEN just slightly over 199.07, with an upside target of 218.68. The data also tells us to set a stop loss @ 198.5 in case the stock turns against the trade. 199.07 is the first level of resistance above 195, and by rule, any break above resistance is a buy signal. In this case, 199.07, 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 199.07, target 189.33, Stop Loss @ 199.64. Details

The technical summary data is suggesting a short of PEN if it tests 199.07 with a downside target of 189.33. We should have a stop loss in place at 199.64 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, 199.07, 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 198.75, target 199.07, Stop Loss @ 198.29 Details

If 198.75 begins to break higher, the technical summary data tells us to buy PEN just slightly over 198.75, with an upside target of 199.07. The data also tells us to set a stop loss @ 198.29 in case the stock turns against the trade. 198.75 is the first level of resistance above 195, and by rule, any break above resistance is a buy signal. In this case, 198.75, 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 198.75, target 189.33, Stop Loss @ 199.21. Details

The technical summary data is suggesting a short of PEN if it tests 198.75 with a downside target of 189.33. We should have a stop loss in place at 199.21 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, 198.75, 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 September 21:

Term →	Near	Mid	Long
Rating	Strong	Weak	Weak
P1	0	0	159.8
P2	198.75	187.03	189.33
P3	205.4	199.07	218.68

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.