3d Printing Breakouts - Four more charts from Ark's $prnt ETF$STMN $RSW $PTX $XONE all high uo on the list
PTX
PTX: Inverted Head and ShouldersI'm not a fan of biotechs; they tend to come with a lot of BS that ruins patters. But I like PTX here, cautiously.
PTX - Flag formation, momentum play from $5.63 or $6.02PTX was declining from quite long time, as it is coming down from $130. It just started to scope up, seems forming a flag formation. Moneyflow is going up sharp. We think it has very high upside potential, so we would like to consider a momentum position.
* Trade Criteria *
Date first found- May 4, 2017
Pattern/Why- Flag formation momentum play
Entry Target Criteria- Pullback to $5.63 or break of $6.02
Exit Target Criteria- Momentum
Stop Loss Criteria- $4.88
Option- $5 Auguest-17 Calls
Please check back for Trade updates. (Note: Trade update is little delayed here.)
PTX Falling wedge breakoutOnce resistance is broken, I believe we test the gap at $5. If we break $5 resistance, then up to $6.50
$PTX Dust has settled showing genuine opportunity PTX has been having a bad run over the last year or two. It has been bashed and heavily shorted, the dreaded debt and SEC standards issues added to this.
Recently under the new leadership of veteran Sedor, the company has restructured its operations and staffing, added new product in pediatric pain medicine, added new patent in Japan and has a number of drugs in the pipeline, this stock is set for a genuine turn around.
Sedor stepped in to other failing companies in the past and re structured them for buyouts - expect this stock to make higher lows/highs over the coming months.
Consensus buyout figure is $3, the stock previously traded comfortably in $8 range. Its 52 week range is 0.39 - 4.24. Has bounced off its lows to consolidating in the high 0.50's and now in mid 0.60s. Its seems as though the dust has settled and investors are seeing genuine opportunity here once again.
Pernix Therapeutics Holdings - PTX - Symmetrical TriangleA nearly perfect symmetrical triangle... look for a strong breakout!
This is published for newer traders to learn basic concept, unfortunately for some odd reason I was not able to publish in its original 5 minute time-frame. Please refer to "Related Ideas" Link at bottom of description for original work.
Symbol: PTX on the Nasdaq
Keep in mind this stock has 60%+ institutional ownership and is susceptible to MM play, therefore TA can at times be less effective, if not effective at all. In any case, I believe this is a bullish , long play.
Recently there have been rumors of a buyout..
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