Polyplex (PTL) Wait at 24-25
February 9, 2011 Leave a comment
PTL is at risk of falling to 24-25 in the near term, with its next breakdown point seen at 28.25. The recent low at 27 is unlikely to hold this time, and the stock will remain at risk of an overshoot to the downside unless a rebound and daily close above 33 is somehow forthcoming – which we doubt. Currently at 29, wait nearer 24-25 before considering a rebound trade.