Hi Eagleman, I couldn't find any information to support the...

Hi Eagleman, I couldn't find any information to support the parameter that "the regression channels are... regarded as being accurate from 40 to 120 periods, with 80 being the most accurate."

Timeframes can definitely casts projections that are directly opposing. In other words, TA can be presented in such ways to support whatever narrative suits. I find it difficult to accept your TA above given that you provided no indicators to support your target of 11.5c.

The daily suggests a target of where we are at today.... the bottom of the channel. As for the weekly on your chart, the bottom of the channel is like 8c. PTX would have to be in some sort of fundamental dire straits for that to transpire. The following is what "my" indicators suggest:



... and which is that today's candle has moved outside the Bollie; the Stochastics are in oversold territory and the Money Flow Index is oversold and now turning up.



The above suggests that in the immediate term, price action is smack on the bottom of its regression channel and longer term, possibly a lower low can be expected but with time that becomes less likely. However, given that you are likely in a trading sydicate that has a following, then its possible that your charts are like self-fulfilling-prophecy if enough traders (and nervous nellies) follow your lead.

Sure, the company really threw a spanner in the works with the CR which really derailed the momentum. When that was followed by what the market was always going to perceive as lacklustre data from the PTX100 interim readout, the plan by the trading fraternity was to apply pressure. So here we are... at that juncture! Lack of newsflow, no liquidity in the PTX market (until yesterday lo and behold). Now we have liquidity and the traders are happy! PTX is becoming another IMU... traders' paradise where TA trumps FA til newsflow, I guess. One overarching agenda is likely to shake out the last of the loosely held oppies, is my bet.

In case you think I am being accusatory or bitter towards anyone, there is only one person I am annoyed with and that's myself. The fundamentals of PTX have not changed... in fact, since the SP was last at this level, the company has achieved amazing milestones, so I just accept what is is.

What will annoy me is if SYC sells some of his fully-paid shares to convert his options that expire next month.... on-market as the IMU directors did. At least sell them in an off-market transfer! The traders will love the former, of course, but that sure would make me unhappy (unless of course I had the cash to buy come the time). Anyway, Eagle, I think I made my point re the TA... I could be wrong, of course.