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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (8814)5/21/2001 7:12:41 PM
From: Jibacoa  Read Replies (1) of 13094
 
JIM:

PTN: (A development stage biopharmaceutical co.) was able to
stage a good up-side break on increasing volume of 322,700(Average volume is 30,000 although it had increased to 80,000 since the up-move started in the last 2 weeks)

The company reported revenues & earnings last week and warned that they expect to continue to have a loss as far as they can see.<g>

On the chart it was able to close above the October & November Hs and should now be able to test the September H at 6.75 The July H was 8.18 but I doubt it will be able to get there. The institutions have been selling.

Maybe somebody knows something or there are a lot of people buying on just a TA basis ?

Bernard
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