PTLA: A good area for taking a chance
PTLA had itself a 40% drop on Friday. It has reached a zone with heavy support though, and is asking to be bought up. They had very disappointing sales for quarter 4, and are being sold off due to concerns over growth. They are not a profitable company, and have a market cap just shy of $2 Billion. They are one of the most innovative and new upcoming companies in the market place right now though, and have some exciting new drugs in the works. I don't see this stock going a lot lower based on one quarter of bad results, even though they are not profitable yet, their valuation is anything but fair for being one of the top innovative pharmaceutical companies in the world. The technicals are also strong, with key support at $15 where the price has bounced 3 times before. It may be a good play to take a chance on it bouncing back into the $20 range for some nice profits, rather than drive into the rest of the market which is heavily over-valued right now, in my opinion. I have highlighted resistances on the chart for potential targets if it does bounce back up nicely.
I hope I made good use of your time today!
That will conclude this PTLA analysis.
As always friends, I wish you good luck trading!
And thank you for supporting me.
-Trader Demo
I hope I made good use of your time today!
That will conclude this PTLA analysis.
As always friends, I wish you good luck trading!
And thank you for supporting me.
-Trader Demo
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