PTTCH : Risk of a gap closure move, but could hit 170-171 first
April 17, 2011 Leave a comment
PTTCH hit a fresh high before the holidays at 168, and looks as f it will touch 170-171 in the very near term. Looking ahead, if PTTCH manages to hold above 170 for a week or two, it will give us a medium term target from 220 to 230, albeit with major psychobiological resistance nearer 200.
If however the week ahead sees US stocks pull back a tad, there will be some chance PTTCH retest the April 12th low at 158.50, or even a gap closure move to 157.