The Hourly View for PEN
Currently, PEN (Get Ratings)’s price is up $0.95 (0.33%) from the hour prior. PEN has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
PEN’s Technical Outlook on the Daily Chart
At the moment, PEN’s price is up $4.71 (1.64%) from the day prior. PEN has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Penumbra Inc’s price action over the past 90 days can be seen via the chart below.
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The post Penumbra Inc (PEN): Price Now Near $292.31; Daily Chart Shows An Uptrend on 20 Day Basis appeared first on ETF Daily News.
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