Protagenic Therapeutics Inc. (PTIX)

[jimmyburkitt]

Dr PennyStock's annotated(updated) chart.

ATRN annotated weekly 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: .15(previous support point).

Resistances: The top of the short descending channel, .26(previous resistance point), .2749(PAR SAR), .3599(previous resistance point).


Positive points:

- The RSI already crossed up the 30 line, giving a buy signal, and, is now flat, poised to a big run, with much room to run, from 33 to 90.

- The short descending channel means accumulation, the stock is almost ready to a big breakout, see the dashed ascending green line, this is what the stock will make in the next days.

- The stock already confirmed .15 as support.

- The volume has been decreasing, it means the sell pressure is almost null, so now the bulls will take control of the stock again, this very low volume will cause an explosion soon, maybe today.

- Finally, the ADX, as you can see, the +DI already crossed up the -DI, giving a buy signal, the +DI is now at 28, until 60, is more than double, enough to a run to above 1.00.


Negative points:

- Excepting the resistances that the stock needs to break, I don't see negative points, I mean, I don't see indicators pointing down.


Weekly chart