Hi PTX holders and onlookers... Been a while since I posted...

Hi PTX holders and onlookers...

Been a while since I posted here... have been of HC for a couple of weeks due to personal reasons... any way thought I would drop in and give you guys some thoughts regarding a basic charting analysis..

My over all opinion here is that PTX is still bullish... it did do a double top as shown in the chart, double tops are renowned for a retrace...  Considering we are trading in a zone that hovers around 6 year highs we are doing exceptionally well... there will be holders that have been in this for years happy to exit and get their money back, but understand PTX is and has progressed on a fundamental basis and this in itself will at some point push the SP upward... I have been watching this stock closely as I have watched strong accumulation over and over in the current zone... the sell downs are small, the buying large over and over, so IMO some one is overly confident here... IF I was to take a punt I would say that something worthy will be announce in the near future... but again that's just taking a guess due to the TA and thinking some one wants a heap of shares..

Any way, here is some basic TA and charting from my perspective:




Strong Bullish Trend
PTX appears to be in a strong bullish trend. Its 200-day moving average is upwards sloping and the MACD histogram is above 0 and rising. Comparative Relative Strength analysis shows that the stock is lagging both the S&P/ASX 200 and the Health Care sector average.

Waning Bullish Momentum
Momentum for PTX, as measured by a 14-period Slow Stochastic Oscillator, is waning. This means that investors are less aggressive in their recent purchases and may even be taking profits in positions bought at lower prices.

Bearish Longer-Term Volume Pattern Improving
Volume, as measured using the On Balance Volume indicator (OBV), shows that longer term selling pressure has given way to near term accumulation.

Recent High Volatility Signals Potential Pause in Trend
Bollinger Bands^® use standard deviation of the closing price around a moving average to measure volatility. The Bollinger Bands^® are presently wider than usual, as a result of greater than normal volatility that accompanied the recent price move. Events such as this may precede a pause or reversal in the near term trend.

If you like my charting and analysis please feel free to click over my avatar and click follow, please tag me in any other stock threads for some alike analysis, I don't always have time, but if I can I am happy to accommodate ... love being bought attention to other stocks... Best wishes to all...