A textbook Symmetrical Triangle - Pernix Therapeutics Holdings

8 Ogo 2016

A nearly perfect symmetrical triangle... look for a strong breakout!

Symbol: PTX on the Nasdaq

Keep in mind this stock has 60%+ institutional ownership and is susceptible to MM play, therefore TA can at times be less effective, if not effective at all. In any case, I believe this is a bullish, long play.

Recently there have been rumors of a buyout..

insiderfinancial.com/pernix-therapeutics-holdings-inc-nasdaqptx-about-to-be-bought-out/116635/

9 Ogo 2016

Nota

What ever will do, our triangle is almost complete!? Stay tuned to find out!!

9 Ogo 2016

Nota

I've included a second chart that included price action that came after I published the first, and is slightly adjusted to please the eye of those who cannot stand an imperfect fit...

On a more important note, interesting price action has literally just about fill the entire pattern, it seems we are bound for some imminent movement... however, let us not forget my initial warning that TA may fail, and therefore so will this pattern, if the MM decide they want it to. I will take it personally. :p

9 Ogo 2016

Nota

We have BREAKOUT!!

Look for 16-28%