Breakout, retest, potential triple bottom Palatin Technologies, Inc. is a biopharmaceutical company, which engages in the development of medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.
An example for use in a reddit post.
With this massive pullback, no news and their competition $ AMAG floating around $10. I expect to see $PTN contest it's 4.76 resistance over the next 4-6 weeks.
Will Women get an F&DA approval for their VIAGRA?? Good entry with LT target 4-5 if approved. This chart is for own use. Viewers come to own conclusions and appreciate comments and learning thoughts.
Support at 0.87 finds itself to hold, should be able to get an easy 5% or more this coming week as it moves back up towards 1.00
Earlier this year i picked up some $PTN at .41 took from some of my port's losers to throw more at this big winner. Getting some respect of the 50% fib here; As y'all know the concept of 50% is critical to ichimoku, HA candles, etc. Also getting some bullish jpn candlestick patterns with volume trending in that dir. via OBV and Volume Trend Accumulation...
I see the beauty in this chart, the moving avreages aline with my technical analysis on the daily that this is a pretty obvious short, have buy orders at .95 and then perhaps at .75 for a easy profit long term investment in the making. They will either touch, go up, then come back down before a nice impulse. Happy trading.
Look for move back down to lower trend line, will meet or slightly cross 100 ema
targets at traditional .382 and .681 retracement entry @ 0 .55
Entered @ .39 as a prospect breakout. Upward trends are strong with profitable volatility, proves to be an excellent trading vehicle at the moment. RSI resting on trend line tells me tomorrow should be interesting. Tight trailing stops as always.
I see this potentially dipping and recovering in a strict uptrend
Falling Wedge Reversal pattern since 1-09? close to bottom?
Very close to 52w HIGH. Looks like it has a BIG resistance @ those lvls. Tomorrow gonna be ride or die. Long if break 0.86 Short if Can't break 0.86 & can't hold 0.80
PTN seems going for more upside. If it fails breaking the level posted on chart i'm looking for a short setup. A strong breakout of that level can invalidate this setup.