Hi Eagleman, in previous a previous discusion with you on the TA front, you stated the following;-
The following is the regression trend as it presents today:-
So, basically from a purely technical pov, the PTX is in an uptrend. Whilst the CR pretty much stymied the steady short term price action it was on prior to it, the SP remains within the uptrending channel. And, it remains very much within the longer term uptrending channel I earlier posted.
Something I couldn't but help
not notice in your last chart is how a "Sell" signal can be followed by a "Buy" signal merely 2 days later. Imagine selling and then 2 days later the ST price action reverses... only to 4-bag like it did a couple of years ago.
With that in mind, I think its safe to say that, yes, the regression channel is probably the most helpful and accurate. News and/or a macro change in sentiment could easily see the current malaise in the PTX price action reverse.
Eventhough it has to be acknowledged that the SP could go lower and "the powers that be" could orchestrate such a move... the overriding FA of PTX tells me that the potential of our pipeline and solid business model will see the buyers come in, in a big way... the same way it did the last time the SP fell to such ridiculous levels. As the saying goes, "The trend is your friend" and the bigger picture shows clearly that we are in an uptrend. ST pain, LT gain.
