PENTA had an awesome bull run last year and up over 100% from 0.6. 

Let's take a peep into PENTA's long term chart below:

The chart above is from 2004 till now. We can see that PENTA forms a beautiful rounding bottom and is in the process of breaking up, with a long-term target price of 2.7-3.0.

From the daily chart below, PENTA recently broke out from a triangle and is heading to challenge its previous swing high.

Should one trade on the breakout, a valid stop loss could be below the previous swing low, as circled in red above. The immediate target price based on the projection of the triangle is 1.90.

I am bullish on PENTA and based on the weekly chart, we can see the price is going up with acceleration. It should have its super bullish leg up to hit 2.7-3.0 based on the rounding bottom breakout.

PENTA (7160): Bullish

Pattern: Rounding bottom & Triangle

Having said that, do have your stop loss in place --> http://klse.i3investor.com/blogs/candlestick/113605.jsp for every trade and manage your risk along the way with proper position sizing --> http://klse.i3investor.com/blogs/candlestick/113061.jsp.

Further Reading

How to determine the "bullishness" of the patterns- https://www.facebook.com/BursaSGXcandlestick/videos/378260995905662/

The Trade Management Technique You Need To Know - http://klse.i3investor.com/blogs/candlestick/114496.jsp

Best Way To Learn To Trade Without A Mentor - http://klse.i3investor.com/blogs/candlestick/113821.jsp

Stop Loss & Safe Trading - http://klse.i3investor.com/blogs/candlestick/113510.jsp

Come Up With Trading Ideas & Turn Them Into Investing Ideas - http://klse.i3investor.com/blogs/candlestick/114110.jsp

Cheers,

Ming Jong

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