Agreed psych101. Way oversold but that seems to be the nature of the ASX beast. High emphasis on short term trading riding sentiment and announcements causing fluctuation in SP. Little emphasis on medium/long term investment in stocks at least untill they start paying a dividend.
PTXs also appears to have taken longer than expected to select the first patients for the current phase again detracting from or inconsistent with the trading mentality
Add to that that there seem to be a number of bio stocks attracting attention so PTX languishes out in the cold untill it gets some loving again.
What is interesting is the % of issued shares held by top 20 or the Board members. Also the slightest buying preasure causes positive price movement. Suggest very tightly held stock in my view.
And the accumulators will continue to do so forging immediate returns in the real expectation of a multi re rate in time. The Turtle and the Hare anality I'm thinking.
PTX Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
