germac

triangle/pennant apex near

NASDAQ:PRTO   None
Proteon is a biotech, the stock price took a running dive into a chasm a while back. I suppose they'll need success with the current phase-3 test of their kidney treatment to recover in any meaningful way (the last one failed). However you can see in the chart that the price has doubled recently, and if there's a solid breakout from the symmetrical triangle next week a further 50% seems to be a fairly near target... but I can't see any reason why it should climb. I thought the bioTech sector may have been trending higher, you know, a rising tide floats all boats, but I checked the S&P Healthcare Bullish Percent Index and it's at 60% and falling.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.