At $28.78, "peng stock price" is trending above its 100-day moving average, often seen by traders as a bullish sign. Sector-wide forecasts predict 6% average gains in tech growth stocks this month. So, PENG appears to have plenty of room to run, and that too at a fast pace. Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Traders cite sector-wide optimism in semiconductor-related equities as a catalyst, while option market activity suggests bullish bets into the next earnings call.
