projectfortune
Long

PTIE - Symmetrical Triangle (Continuation) - Bullish

NASDAQ:PTIE   PAIN THERAPEUTICS INC
Technicals:

Bullish Signals from:

Symmetrical Continuation Triangle
Expected Price Target: $6.00+
Timeline: 4wks

Bollinger Bands – W Bottoms
Last bottom lower than the prior with bonce toward middle.

MACD
Line cross-over with upward direction.

Parabolic SAR
Start of uptrend with 1 period. Awaiting more confirmation.

Net Volume on rise.

Conclusion:

Short term – Buy signal after confirmed Parabolic SAR signal and top breach in bollinger bands with further increase in volume .

Long term – Company outlook too risky however monitor potential drug approval. If approved, access market for potential sales which appears to be high at this time. Invest in other companies involved in benefiting from this.

The post is to be updated below based on changes in the market.

More @ http://www.projectfortune.com/2014/09/pain-therapeutics-inc-ptienasdaq/

Based on updated chart, this is a no go.

Disclaimer: The information discussed above may be false and opinionated. Market trading involves risk and should not be invested in solely based on the discussion above. The author assumes no liability for any losses or expenses
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