PEM starting to look interesting
PEM gapped on Tuesday Sep 8th, after being added to S&P300 the Friday before, there was high volume on subsequent days and although drifting down over the last 4 weeks, has held support at 46c. High volume on Friday *may be early* breakout signal if it can close above 54c on 3Mil+ volume.
Note: there is potential for PEM to trade back down to 46c and form an upward triangle before it really breaks out, where breakout will more likely be November/December.
I am really cautious with regards to trading long right now, so please be careful. I believe we are on borrowed time with regards to this bear market rally.
Usual disclaimer DYOR.
PEM has just released the September quarterly report. Cash reserves increased, even the Broken Hill mine was not operating for 9 days due to a power failure they only just fell short of the 30,000 tonnes of zinc and lead (actual 28,900).
Looks very encouraging, look forward to other comments.
some more volume would be nice....still looking good though :D
can it hold this level?
I posted my opinion on 11-Oct:
*** Note: there is potential for PEM to trade back down to 46c and form an upward triangle before it really breaks out, where breakout will more likely be November/December. ***
Will it hold? Coin toss :wink:
its holding very nicely and will run soon imo..
chart wise very nice.
could this finlly be the breakout!!!!!!!!
gotta love a trend like this...
when will it stop????
good buy at this level with a stop below 50.. up trend still in tact.
pop! should hit 80 again in no time...
just set for some trend continuation :cool: :cool:
big breakout underway, looks good