Breaking: Palatin Technologies Inc (AMEX:PTN) Stock Through Resistance -- Technicals Hit Extreme Strength
(PTN Price of Stock at Publication: $0.97)
Breaking: Palatin Technologies Inc (AMEX:PTN) has hit maximum technical strength -- watch the technical oscillators for momentum gaps. The company has broken out to a five bull momentum rating -- that is extreme strength and through technical resistance.
The risk now is that the stock is overbought, but as of this moment, the price is moving abruptly higher, through resistance, and the bulls are leading the charge.
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PTN is up +11.8% over the last three months and up +143.7% over the last six months. The stock price is up +142.5% over the last year. The current stock price is $0.97.
PTN Stock Returns
Technicals | Support: 0.8837 | Resistance: 0.99
Golden Cross Alert: The 50 day MA is now above the 200 day moving average.
As we noted above -- the back of the envelope rule here is that when shorter-term moving averages move above the longer-term ones, momentum is building. We have that right now.
Swing Golden Cross Alert: The short-term 10 day moving average is now above the 50 day moving average.
When the shortest-term moving average (10-day in this case) moves above any other moving average (50-day in this case), momentum is climbing.
This is where pivot points reign: Palatin Technologies Inc has a five bull (top rated) technical rating because it's trading above its 10-, 50-and 200- day simple moving averages and the stock is up 1.04% on the day the day.
We now turn to the actual numbers driving this rating:
Palatin Technologies Inc (AMEX:PTN) rating statistics:
10-day moving average: $0.92
50-day moving average: $0.90
200-day moving average: $0.64