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Pain Therapeutics(PTIE) is a biopharmaceutical company that develops novel drugs. It has four drug candidates in clinical programs, including Remoxy, Oxytrex, PTI-202 and a novel radio-labeled monoclonal antibody to treat metastatic melanoma. This stock is trading up 9.4% at $4.42 in recent trading.
Today's Range: $4.10-$4.45
52-Week Range: $3.41-$5.53
Three-Month Average Volume: 121,997
>>5 Technical Trades Under $10
technical perspective , PTIE is exploding higher here right off its 50-day moving average of $4.08 with above average volume. This move is quickly pushing PTIE within range of triggering a near-term breakout trade. That trade will hit once PTIE takes out some near-term overhead resistance levels at $4.45 to $5.03 with high volume.
Traders should now look for long-biased trades in PTIE once it sustains a move or close above $4.45 to $5.03 with volume that's near or above 121,997 shares. If that breakout triggers soon, then PTIE will have a great chance of re-testing or possibly taking out its next major overhead resistance level at $5.53. Keep in mind that any high-volume move above $6 should be consider very bullish for PTIE, since that would move the stock into a gap down zone from back in 2011.