📊 $PTGX Technical Analysis (Daily Chart)

Current Price: $46.95

Trend: Recovering from a steep downtrend, showing short-term strength

Fib Levels (From high $60.60 to low $39.60):

0.382: $47.62 (currently testing)

0.500: $50.10

0.618: $52.58

Moving Averages (short-term support):

9 EMA: $44.76

21 EMA: $45.87

50 MA: $44.89

🔍 Key Observations:

Today’s candle is testing the 38.2% Fib retracement at $47.62 – a common reaction zone in bear market rallies.

Strong bounce off the lows near $39.60 with momentum, but still below the 50% and 61.8% retracement levels — these are key resistance zones if rally continues.

Volume not shown, but price behavior suggests a short squeeze or momentum bounce.

The cluster of moving averages around $44–$46 now serve as support.

🧭 Trade Plan

🔼 Bullish Scenario:

Trigger: Clear breakout and close above $47.62

Targets:

$50.10 (0.50 Fib)

$52.58 (0.618 Fib)

Stop-loss: Below $45 (just under 21 EMA)

🔽 Bearish Rejection Setup:

Trigger: Rejection at or below $47.62, forming a topping candle (like a doji or shooting star)

Target zones:

$44.76 (9 EMA)

$41.98 (recent support)

Aggressive Target: $39.60 retest if overall market weakens

Stop-loss: Over $48.25 (above Fib + wick buffer)

⚠️ Notes

Watch for overall market direction — PTGX is still below major resistance zones.

Ideal for short-term swing or day trade, especially if volatility continues.