For anyone in this play, here's a short analysis a few of us put together for a possible swing-trade play:

phrantic Share Saturday, October 23, 2010 1:11:29 PM
Re: lowtrade post# 18795 Post # of 18810

Strong Watch For Monday: PSTI

Key resistance at $1.50 (6-month & 18-month look); watch for break above $1.50 on increased volume for entry; recommend buy-stops at $1.52; currently trading above 50 & 200 MA; Friday's close was at HOD and above the 5, 10, 20 MA; once resistance is broken watch for pullback on light volume for opportunity to add to initial position; recommend 6-7% sell-stops; short-term target is $1.88; very possible for this to run considerably higher as resistance above this point is at least 18-months old; OS is 21.83M, Float is 17.67M; Short position is a mere 0.78%

Chart Dynamics: Retail support is seen in the StochRSI at 0.892 (suggesting early entry), as well as volume which has approximately doubled since mid September to present; 5, 10, 20 MA says be in; note moderate upward curve on the 5 & 10 MA again suggesting retail increasingly supporting upward move; CMF is showing weak buying pressure, but is advancing and needs to continue; ADX at 39.98 showing strong support to move confirming StochRSI and advancing CMF, with +DI over -DI. Note the acute angle on the lower trend line of ascending triangle denoting strong retail sentiment; Gaps at 1.28-1.30 & 1.23-1.26 present little significance due to their age. This is a buy high/sell higher play.




RedStick Share Saturday, October 23, 2010 2:37:35 PM
Re: phrantic post# 18798 Post # of 18810

Excellent analysis phran. The case is strong for this one breaking 1.50. ADX above 20 while +DI is above -DI denotes uptrend. A break above 1.50 would have the +DI turn up which coupled with an ADX above 40 would denote a strong uptrend.

Company has no revs, so may want to check the latest filing and most recent PRs to see what is driving the price here, i.e. clinical trial date, etc. If something like that were to come back negative, this chart wouldn't mean much. If you find nothing like that, then the chart rules the day. If you find something positive to look forward to, that coupled with a strong chart would be a great recipe for a nice run.

lowtrade Share Saturday, October 23, 2010 4:14:35 PM
Re: phrantic post# 18798 Post # of 18810

Very good work and Redstick's comments were also excellent. Because of the low volume, a strong story should be needed to increase the following, for any continuous move.

On the other hand, the resent move has remained well above the FIBs retrace 50% level. That with the ascending triangle should produce the resistance break, event with the weak interest level.

The question is will news be needed to reach target. IMO Because of low volume volatility, emotion could do that. But with out the story & following, the next pop may not hold like the last. It's a short/long prospective thing with both of you.

I like the odds for leg 2 target, but feel the next leg up, leg 3 month 3, requires a strong storyline behind it. Also should add that these temp job patterns fail after leg 2 many times because the story falls short of retail expectations