PRTA - Short Idea

30 thg 9, 2022

Hi everyone. As we have seen the markets have been extremely red for the past few days. Even with that, this particular stock, PRTA, soared on Alzheimer related news. These news were not particular to the company; however, the stock did go up around 90%. We currently have a huge fap to fill. I don't mean to sound greedy, but my price target on this play is around 35$-40$. I plan to start a 5 figure position on this play. Stock has shown overbought signs as we can see on the RSI, as it broke above that 70 key level. Once again, this stock will take its time to come back down as it has a high percentage of institutional ownership, around 95% to be exact. I like this play and therefore that is why I have decided to go on heavier than usual. Good luck to everyone.