Yesterday I wrote about the bullish Golden Cross which had formed on shorter timeframes, and it looks like it's just about formed on the longer 50/200dma too.

Here are some more observations

1. We have broken out and closed above the March 2012 downtrend line. This is a bullish sign. But if it drops back below and into the wedge, we're vulnerable to .085 again

2. We have built another "W" formation similiar to the one from July 2011 to Jan 2012. The price in March subsequently resolved 2-300% higher. This "W" began forming in late April until now.

3. Mid June to the end of July formed a "Cup" ..lets see how (and if) this "Handle" forms.

Both the "W" and "Cup and Handle" formations are powerful bullish formations

If these formations resolve positively, this will likely set up a further bullish formation that I can see which would develop.

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=PTSC&insttype=Stock&freq=1&show=&time=9

As is my policy, I post the negative as well as the positive I see about PTSC. I doubt anyone familiar with my posts can accuse me of being a hypster. lol

** all the above presupposes you think TA has any application on microcap low volume penny stocks. I'm not convinced it does, unless someone trades in a way to make it so.

ps ... Warning to all, These are general indicators that have all kinds of invalidation rules that apply; but most importantly, I'm lousy at TA; :)