While using Barchart to screen for low-priced stocks hitting the most frequent new highs, I came across Pain Therapeutics (NASDAQ:PTIE) and added it to the Barchart Van Meerten Speculative portfolio. The stock was added mainly for technical reasons.
- 96% Barchart technical buy signal
- Trend Spotter (tm) buy signal
- 13 new highs and up 34.60% in the last month
- Relative Strength Index 74.40% and rising
- Trades around 8.85 with a 50 day moving average of 7.05
- Although there is only 1 Wall Street analyst following the stock his buy recommendation and estimates are aggressive
- Sales are estimated to increase by 174.80% next year
- Earnings are projected to increase by 83.80% annually for the next 5 years
- I'm surprised at the wide and positive general investor following for a stock followed by only one professional analysts
- The CAPS members on Motley Fool vote 183 to 17 that the stock will beat the market
- The more experienced All Stars agree 71 to 4
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.