Selling looked exhausted to me today, though this can change quickly and it's only the beginning of the week. However what struck me was sellers' reluctance to dump in buyers queued at 24.5c with 730k shares.
I consider this a positive sign of support around these levels, especially considering there was a $100k single buy at 25c - and don't forget $280k single buy at 28c last week.
It's great to see huge conviction remains from those who truly appreciate the significance of the work PTX are doing and it's infinite potential. There are definitely some smart, deep pockets circling PTX at the moment and this is even before it's market cap is big enough to attract $$$ from the broader market/funds.
Given a number of highly positive announcements are expected this quarter, it's little wonder buyers continue to position themselves in preparation for the next rerate. Entry into the ASX300 will occur at around $1.30 per share.
PTX Price at posting:
25.0¢ Sentiment: None Disclosure: Held
