PTA consolidating !!I believe what's happening with PTA is very normal, I posted this on March 5th :
PTA had a very slow day, obviously the aggressive rally from 0.105 has witnessed some resistance @ 0.15 and the buying power has weakened. We witnessed a very healthy move and I believe if PTA retraces a bit, but I don't think it will break 0.135 level and if PTA manages to pass through the 0.15 level, we will face our next resistance levels @ 0.165 and 0.18. Breaching the 0.18 will be very positive because next resistance should be 0.25 !!
I personally believe that any positive announcement will be delayed till the 20 cent Warrants expire on April 19th worthless to avoid a 1% dilution to shareholders. So this coming month will most probably be a quite month with no press releases from the company. After that date we will be expecting year end results ( mid April ) and by then we will get well results, if positive .... That will be a tremendous catalyst for PTA stock.
Read more at https://www.stockhouse.com/companies/bullboard/v.pta/petroamerica-oil-corp#Vl9y75bT6GYEBjhP.99.
Conclusion :
PTA is extremely undervalued and this coming month is a good time for anyone to build a new position or average down. This is my true and honest opinion!!
Good luck to all longs