RE:Sold the rest today-small caps first to hurt in down MKTHey Besttobe,
I do agree there will be some pain coming our way and I don't think PTQ will be spared, but I think there's still a bit left in the tank for PTQ to go higher.
Since PTQ, doesnt trade based on peer valuations - its really hard to predict a short term top for this stock. From a technical perspective, what's interesting is PTQ follows Fibonacci extensions.
The Major extensions for support/resistance are at 161.8% and 261.8% (amongst others). From the bottom at 0.50 - 161.8% extension was around $1.30 which is a big support line for PTQ. At 261.8%, PTQ is around $1.80 and that is only 16% away from our close...
I could be wrong and acting greedy, but I'm going to test my theory that we go atleast higher than 1.70 in the very near term...