Friday, February 24, 2012

PTSC - $.20 on Monday Next Stop $.40?

Just over a week ago I wrote about PTSC  The stock was trading around $.12 a share and I stated how I thought the stock would rally to $.20 or better.

This is my chart from back then.

The stock has firmly broken $.14, and now stands within $.005 of $.20, just missing the figure by $.002 hitting a high of $.198.  We find ourselves right at that $.20 mark.  If that breaks potentially how much higher can this stock go?

I think a case can be made for $.40.  Obviously the buying would have to continue for this to happen and I wouldn't rule out some consolidation and/or a pullback.  The stock has rallied rather furiously and a breather isn't necessarily bad for a healthy stock rally.   I was right on with my call about PTSC.  Readers of my forum knew about this stock a few days earlier than the blog.  I was high on it then, of course nothing is ever certain in this market, but I felt about PTSC like I did about FFN.  With FFN I thought $1.20 and maybe $1.60 was possible when the stock was at $.51, FFN ended up going over $2.70 a share..  With PSTC I said $.20 or possibly more when the stock was at $.11 and $.12.  If I'm right about PSTC like I was right about FFN, then we could easily see a rally to $.40 or better.  It may take some time, but ultimately it could happen.

Congratulations to those who bought and profited on PTSC.  While the stock has been a winner so far, further gains are by no means guaranteed and it never hurts to lock profits in after being up almost 100%.

Let's see that $.20 break on Monday and see if the stock wants more gains, consolidation, or a pull back. 

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