Protagenic Therapeutics Inc. (PTIX)

[Dr PennyStock]

ATRN annotated daily chart including supports and resistances.


Very important to understand how to read charts: previous supports become resistances, and, previous resistances become supports.


Supports and positive points are signaled with green, resistances and negative points are signaled with red.


Supports: .011(the horizontal green line).


Resistances: .0327(PAR SAR), .045(previous support, now resistance, the first horizontal dashed red line), .08(previous support and resistance, the second horizontal dashed red line), and, finally, .26(previous support in November, now resistance, the horizontal red line).


Positive points: The volume increased much in the latest days, this means the stock has found a bottom, the RSI is oversold since about two months, with much room to run, the MACD crossed to positive about 30 days ago, and the lines are pointing up, the -DI crossed the ADX line to the down side about 30 days ago, the +DI is at 7.45, with much room to run until the overbought zone, at 50 - 60.


Negative points: Only the -DI, that still has also space to move up a little, to 50 - 60, but, I don't think it will happen.


I expect a breakout of the PAR SAR, and, a run to somewhere between .08 and .26 in the next days.


This is a technical play, I trade the charts, not the companies.


Good luck to all.