As asked for! So here is how I see this. And this is only my opinion! Please DD before trading! Im Bullish here again!
$Petros Pharmaceuticals(PTPI.US$ Allow me to start here because a bit of confusion has arisen! Up until and including early this morning, 3/23/2024, this was on the FDA PDUFA Calendar for a type C meeting. It has since disappeared from the calendar???? But i will continue with the assumption the meeting is still taking place. The meeting is in reference to the OTC approval of STENDRA. The circumstances for this meeting are kinda unique because the FDA had requested a ( listen only ) meeting ahead of the Type C meeting! IMO by requesting this listen only meeting prior to type C for STENDRA is very encouraging! By statute the FDA is obligated to issue a response/outcom of the type C meeting within 30 Days.
2nd! The 4hr and the daily are looking fairly bullish to me! Both have formed a double bottom. Both 4hr and daily are showing a overall uptrend. The last candle on the 4hr has formed a spinning top! I would be remiss if i didnt mention a bit of conflict between the 2 charts as well! The 4hr bullish MACD made a GC mid day Thuraday and has not only continued but has curled up nicely into RRTing! DPO also crossed into positive territory at the same time! It has stayed above midline and started to return to a upward trajectory going into late afternoon, into end of AM. Now the bit of conflict. On the daily MACD is actually below SIG, but gap tightening. And DPO is basically neutral! So this is where i am! Ive decided i am going to swing trade this again! And as usual if the uptrend continues? I will scale out to secure profits! And for this ticker it will serve a second purpose! With the possible upcoming catalysts. If i secure profits before the catalyst? Scaling out allows me to lower my diluted cost. So if after securing some profit and then a positive PR comes and pushes price up without a pullback? I can still buy back in, using profits secured, while still keeping my cost position lower than the price it would be trading at the time! Hope Y’all are enjoying your weekend ![]()
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Jaguar8 : Yehey!!!