$PNTV Daily Chart ~ Interesting Day Yesterday
Post# of 2561
Posted On: 06/24/2014 7:34:21 AM
$PNTV Daily Chart ~ Interesting Day Yesterday
Yesterday saw PNTV's volume surge to almost 1.6 million shares, its highest level in seven weeks. The good news is that someone absorbed that amount while the stock closed down just over 3%. Technically nothing changed on the chart. The stock closed above the MA200 and traded between the middle and upper bollies. Although the FullSto is in overbought territory, the MACDs are just beginning to move over their zero lines. With the stock up almost 86% from its low of less than two weeks ago. Some profit taking and backfilling isn't a bad thing. Accumulating the dips for the next few days and weeks should result in steady gains as management moves forward. My trigger for the next leg up would be a close at .0306 on strong volume, although I would rather see a few more days of consolidation in the .025-.027 area. Absorbing the shares from flippers at this level would be more advantageous to longs than rewarding short term shareholders through buying their stock at higher levels. Allowing the sellers to come to you over the next day or two would be my strategy. GLTA
Yesterday saw PNTV's volume surge to almost 1.6 million shares, its highest level in seven weeks. The good news is that someone absorbed that amount while the stock closed down just over 3%. Technically nothing changed on the chart. The stock closed above the MA200 and traded between the middle and upper bollies. Although the FullSto is in overbought territory, the MACDs are just beginning to move over their zero lines. With the stock up almost 86% from its low of less than two weeks ago. Some profit taking and backfilling isn't a bad thing. Accumulating the dips for the next few days and weeks should result in steady gains as management moves forward. My trigger for the next leg up would be a close at .0306 on strong volume, although I would rather see a few more days of consolidation in the .025-.027 area. Absorbing the shares from flippers at this level would be more advantageous to longs than rewarding short term shareholders through buying their stock at higher levels. Allowing the sellers to come to you over the next day or two would be my strategy. GLTA
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