RE:Trademark...what do think is the bottom? **AS GRAPHS CANNOT BE PUT ON THIS FORUM, I WILL ATTEMPT TO GIVE YOU THE DATES WATCHED SO YOU CAN DRAW THEM ON YOUR OWN GRAPHS. THESE ARE MY CALCULATIONS; DO NOT TRADE ON THEM AS I AM AN AMATEUR AND NOT "BUY AND HOLD"***
I WORK WITH THESES THAT ARE EITHER PROVEN OR FAIL. BELOW IS PRESENTLY THE MOST PROBABLE THESIS GOING FORWARD IMO UNTIL OTHERWISE DISPROVEN BY NEWS OR PRICE ACTION
THESIS
A. LONG TERM
3 potential major trading channels identified in the last 3 years.
Most probable channel in thesis runs parallel to the line that connects the lows of 9 April/20, 21 Dec/20 and 20 Apr/21. This channel represents a CAGR of 183% and while unsustainable in the long run, I believe it is sustainable until we reach fair market value ($3.13 CAD by my calculations) Thesis follows this pattern until it fails or confirms
B. MEDIUM TERM
Symetrical/ascending triangle with upper line touching the reaction highs on 10 Feb 21, 29 Mar 21 and 5 April 21...lower line touches reaction lows 5 March 21, and 20 April 21 with apex 8 July 21. Price Target 3.10-3.20 (break up) and 1.15-1.25 (breakdown), Max price July 8/21. Thesis follows this pattern until it fails or confirms
C. SHORT TERM
Ascending triangle touching reaction highs April 9,12,14,and 21, lower line touching reaction lows April 19, 23 (today). The lower border coicides with the long term trend line discussed above.
**NOTE**: Volume has been insignificant on vast majority of downturn days as evidenced by On Balance Volume and Accum/Distr graphs; both slope significantly upwards.
CONCLUSION:
Bullish and continue to hold a high (way too high) percentage of portfolio in PTQ. Thesis holds that the sp is at the bottom of a higly probable, tradable channel that has bullish fundamentals behind it. Thesis shows breakout of short term triangle on April 30th-May 3 and eventually we retest 2.40-2.46 to add another reaction high to the intermediate channel. Subsequent retracement the standard 50-60% to retest 2.25-2.20 (and retest the long term trendline) and then ultimately breakout (up or down) in the first week of June. Price target to be reached around first second week in July.
If it breaks down to 1.88 (intermediate low and pivot point for double top) and stays for 3 days then thesis is void
This is without news good or bad, which ultimatley trumps all technicals.
DO YOUR OWN DD, AMATEUR INVESTOR, NOT MEANT AS ADVICE FOR TRADING