Ha-ha great post
guess you were off a year. Penny Stock Trade Idea For June 06, 2016 AllPennyStocks Tue 2016-06-07 2:07 AM Deleted Items To: Allpennystocks.com Daily Technical Penny Stock to Watch Featured on June 07, 2016 Penny Stock of the Day Metrics (Updated Daily) Penny Stock of the day 30 day Average Return: 13.02% % Of Companies that have: Risen In Value Next Trading Day: 45.5% Traded Higher Than Pick Price After 7 Days: 90.9% Traded Higher Than Pick Price After 30 Days: 90.9% Portage Biotech Inc Ord (Pink Sheets (OTO) : PTGEF) Commentary When looking at the ProShares Ultra Nasdaq Biotechnology ETF (NASDAQ:BIB), we have been watching the decline in the ETF since the summer of 2015 with the ETF now down 54% since that time. Its been a disaster for biotech stocks, however as discussed with our newest stock pick being in the sector (AllPennyStocks.com Pro members only), the technicals are starting to look good for this sector as a whole. Going with this theme, todays trade idea, Portage Biotech Inc. (OTCPK:PTGEF) has an equally appealing technical chart which is why we are on the watch for a potential near term share price breakout. Its best to view the PTGEF stock chart in its weekly form. When we zoom out and take a longer term view, we see a stock that has been in that same type of down trend as the biotech ETF listed above since mid-2015, and is coming up to one key resistance level, that if broken could send shares substantially higher in the near term. The level we are referring to is at roughly $0.15. Above $0.15, further resistance doesnt come in the picture until at least $0.25, and more at $0.33. As for support, we would watch the $0.10 level on any share price weakness. Our trade strategy would be to only enter the stock upon a successful break of the $0.15 resistance level. With that said, our entry price would be a close above $0.15 on strong volume. Upon a successful entry, we would place a price target at $0.245 and a stop loss at $0.115. Based on a $0.15 entry level, our upside potential looks to be 63.3% while our downside risk is limited to 23.3%. Remember, its key to wait until a break above $0.15 before entering as we would require confirmation of that resistance level breakout before entering a long position. With todays strong trading day, there could be a pull back tomorrow, but over the coming days to two weeks, that resistance level could be taken out if the stock continues on the path it is currently following. The stock price direction for the day for PTGEF is UP. The stock is experiencing a strong uptrend as of late, with an increase of more than 15 percent in the last five days. Based on BullishInvestor.coms proprietary algorithms, PTGEF is currently signalling BULLISH. The most recent Candle Stick pattern for PTGEF is the Belt-hold. Overall the technical indicators are signaling a bullish reading for PTGEF. As such, it may be a wise decision to consider PTGEF at these price levels. The last BEARISH rating was registered on Jun 01, 2016 when PTGEF was trading at $ 0.12. This stock now finds itself with a new BULLISH rating and is worthy of a new look from a technical analysis perspective.