How the (PEN) price action is used to our Advantage
August 02, 2024, 20:20 pm ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for PEN
- Buy PEN slightly over 163.24 target 192.61 stop loss @ 162.77 Details
The technical summary data tells us to buy PEN near 163.24 with an upside target of 192.61. This data also tells us to set a stop loss @ 162.77 to protect against excessive loss in case the stock begins to move against the trade. 163.24 is the first level of support below 175.51 , and by rule, any test of support is a buy signal. In this case, support 163.24 would be being tested, so a buy signal would exist.
- Short PEN slightly under 192.61, target 163.24, stop loss @ 193.17 Details
The technical summary data is suggesting a short of PEN as it gets near 192.61 with a downside target of 163.24. We should have a stop loss in place at 193.17though. 192.61 is the first level of resistance above 175.51, and by rule, any test of resistance is a short signal. In this case, if resistance 192.61 is being tested, so a short signal would exist.
Swing Trading Plans for PEN
- Buy PEN slightly over 192.61, target 222.81, Stop Loss @ 192.05 Details
If 192.61 begins to break higher, the technical summary data tells us to buy PEN just slightly over 192.61, with an upside target of 222.81. The data also tells us to set a stop loss @ 192.05 in case the stock turns against the trade. 192.61 is the first level of resistance above 175.51, and by rule, any break above resistance is a buy signal. In this case, 192.61, 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 192.61, target 174.63, Stop Loss @ 193.17. Details
The technical summary data is suggesting a short of PEN if it tests 192.61 with a downside target of 174.63. We should have a stop loss in place at 193.17 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, 192.61, 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 192.61, target 222.81, Stop Loss @ 192.16 Details
If 192.61 begins to break higher, the technical summary data tells us to buy PEN just slightly over 192.61, with an upside target of 222.81. The data also tells us to set a stop loss @ 192.16 in case the stock turns against the trade. 192.61 is the first level of resistance above 175.51, and by rule, any break above resistance is a buy signal. In this case, 192.61, 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 192.61, target 174.63, Stop Loss @ 193.06. Details
The technical summary data is suggesting a short of PEN if it tests 192.61 with a downside target of 174.63. We should have a stop loss in place at 193.06 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, 192.61, 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 August 02:
Term → | Near |
Mid |
Long |
Rating |
Weak |
Weak |
Weak |
P1 |
0 |
0 |
163.24 |
P2 |
161.85 |
161.64 |
192.61 |
P3 |
169.63 |
174.63 |
222.81 |
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: