PENG support zone 65 hit

Support zone: close above is a hit. Close on the level is a push. Graded on the regular-session close.

A support zone is a price below the market where a large amount of options positioning sits. The idea is that this positioning can slow a move down there, so the test is simple: does the stock close above it? When it was posted at 19:01 ET, PENG traded at 67.5, 3.8% above the support zone. On the same map, the next level above was 70 and the next level below was 60. See the original post.

Price never closed a 5-minute bar on the wrong side of the support zone. Its closest approach was 6.62 away (71.62); the session range was 71.62 to 76.28. In the last hour price moved up 3.47, from 72.81 to 76.28.

The regular-session close was 72.61, 7.61 (11.71%) above the support zone at 65. Under the rule (support zone: close above is a hit), that is a hit.

Penguin Solutions reported fiscal Q4 revenue and earnings above estimates and raised its fiscal 2027 outlook, citing AI infrastructure and memory demand. PENG finished the day up 13.1%, while SPY was down 0.2%.

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