PEN is starting to shape up as an interesting asymmetric setup. The chart still has work to do, but the upside potential is attractive if the structure completes.
Price has potentially printed a throw-under the wedge support and printed what looks like a deep, high‑volume Spring on the horizontal range. Under Wyckoff logic, when the Spring shows higher volume than the Selling Climax, we typically expect a Test to confirm demand before any meaningful markup.
If PEN can deliver a clean Test and then break above the swing high at $1.075, that would confirm the Spring and shift control back to buyers. From there, the logical upside targets sit at the range highs around ~$2.90, with scope for continuation if momentum builds.
This is one to keep on the radar — the structure is early, but the reward‑to‑risk could become compelling if the Test plays out.
Price has potentially printed a throw-under the wedge support and printed what looks like a deep, high‑volume Spring on the horizontal range. Under Wyckoff logic, when the Spring shows higher volume than the Selling Climax, we typically expect a Test to confirm demand before any meaningful markup.
If PEN can deliver a clean Test and then break above the swing high at $1.075, that would confirm the Spring and shift control back to buyers. From there, the logical upside targets sit at the range highs around ~$2.90, with scope for continuation if momentum builds.
This is one to keep on the radar — the structure is early, but the reward‑to‑risk could become compelling if the Test plays out.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。