Pain Therapeutics (PTIE)
52-week Range: $3.28-$9.86
Three-Month Average Volume: 173,002 From a technical perspective, PTIE is spiking higher here with decent volume. This move is coming after the stock took out its 50-day moving average on Wednesday at $3.80. Traders should now look for long-biased trades once PTIE triggers its next major breakout. That breakout will trigger once PTIE takes out its 200-day moving average of $4.07, and then some near-term overhead resistance at $4.20 with high volume.
Look for PTIE to sustain a move or close over those levels with volume that's near or above 173,002 shares. If we get that action soon, then PTIE could easily re-test its 2012 high of $4.53, or its next significant overhead resistance level at $4.84. Keep in mind, that PTIE will need to sustain a trend above its 200-day at $4.07 with strong volume, to give it a chance at making that larger move. To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under-$10 Moving Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
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