Taking everything into account, PTN scores 7 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- In the last month PTN has a been trading in the 14.13 - 20.43 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
- PTN is part of the Biotechnology industry. There are 525 other stocks in this industry. PTN outperforms 99% of them.
- When comparing the yearly performance of all stocks, we notice that PTN is one of the better performing stocks in the market, outperforming 99% of all stocks. However, this relatively good performance is mostly due to a recent big move.
- PTN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so PTN is lagging the market.
- Considerably lower volume is observed in the last couple of days.
Besides having an excellent technical rating, PTN also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 14.60, a Stop Loss order could be placed below this zone.
More info and screens
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When analyzing the support we notice one important area.
- A support zone ranging from 14.48 to 14.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for PTN is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for PTN is neutral. |
| ChartMill Relative Strength | 99.98 | POSITIVE | PTN has a high relative strength, it outperformed 99.98% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of PTN is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of PTN is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PTN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 42.8 | NEUTRAL | The RSI value for PTN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.19 | NEGATIVE | The MACD value suggests PTN has a negative trend. |
| Stochastics (14,3) | 26.36 | NEUTRAL | The Stochastics value for PTN is a neutral value. |
| Average True Range in percent/ATR (20) | 15.33 | HIGH VOLATILITY | The high ATR as a percentage value for PTN suggests high volalility. |
| Average Directional Index/ADX (14) | 16.16 | NEGATIVE | The low ADX value for PTN suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 16.32 | 14.70 | 1.62 (9.95%) | 10.05% |
| An entry @16.32. This is a Buy Stop order right above the 10 day moving average. | An exit @14.70. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.62 points, which is 9.95%. | When investing 10.05% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of PTN. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
14.71
-0.26 (-1.74%)
PALATIN TECHNOLOGIES INC / PTN FAQ
What is the technical rating for PTN stock?
ChartMill assigns a technical rating of 7 / 10 to PTN.
What is the trend direction for PTN stock?
The current trend direction for PALATIN TECHNOLOGIES INC (PTN) is Bullish.
Can you provide the RSI signal for PALATIN TECHNOLOGIES INC?
PALATIN TECHNOLOGIES INC (PTN) has an RSI value of 42.8009. This indicates that the stock is currently neutral.
What is the MACD signal for PTN stock?
The MACD indicator for PALATIN TECHNOLOGIES INC (PTN) has a value of -0.194852, indicating a bearish trend.
What is the short term momentum for PALATIN TECHNOLOGIES INC (PTN) stock?
The short term momentum for PALATIN TECHNOLOGIES INC (PTN) is neutral.