Petlife Pharmaceuticals Inc. (PTLF) provides a perfect example of ideal pullback chart pattern, growing market share in growth space, recent signs of aggressiveness from management.
PTLF has a small trading float (<29M shares) that could help foster a strong squeeze on any type of increased attention. PTLF benefits from the 56% market saturation of pet ownership in US. PTLF is coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way. PTLF just recorded a MACD Bullish reversal, suggesting a technical change in trend. PTLF is hitting double-bottom, Fibonacci, and Elliott support simultaneously right now
Petlife Pharmaceuticals, Inc. (OTCMKTS:PTLF) is a company that engages in the research, development, and sale of advanced drugs and nutraceuticals for pet cancer and autoimmune related diseases in the United States.
The company has developed and is launching a new generation of potentiated veterinary cancer medications and nutraceuticals, under its new tradename VitalzulTM, based on the same patented formula “Escozine” and production processes that have been scientifically proven as an effective treatment for cancer in humans for years. Escozine (for humans) is currently sold as either a nutraceutical or prescription drug in 40 countries including the US. It also intends to develop products for pets in the areas of arthritis, hepatitis, and Lyme diseases.
The chart for this stock is downright special, with a pullback hitting Fibonnaci and price level support simultaneously on oversold indications, all inside an uptrend on the chart. We will cover that more in a minute, but first let’s cover the operational updates for the company. PTLF recently announced that it has proceeded to the next expected stage of acquiring Dr. Geoff’s Real Food for Pets and simultaneously has expanded plans for a national rollout.
According to the release, “As part of this acquisition, PetLife will assist Healthy Life Pets to roll out a product line of 25 foods, treats, supplements, and pet accessories. These include nutraceuticals, shampoos, creams, sprays, and other natural products (i.e. supplements) for dogs and cats. In addition to canned food, the line already has two existing Superfood Supplements: ImmunoPower, to help prevent sickness and cancer, and Antioxidant Boost, which helps rejuvenate the immune system, increase lean muscle, and promote healthy skin and coats.” A couple days later, the company released an overview of the main drivers behind the rise of holistic pet care and products.
“The shift in the pet owner market from baby boomers to health-conscious millennials and an increased access to natural, organic, and eco-friendly pet health practitioners and products are making holistic pet care mainstream. Approximately 56 percent of U.S. households own pets and have such close emotional bonds with their pets that they are often referred to “as family.” This is a major driver of the rapid growth of the holistic pet care industry.”
That frames the action in the stock, which we love right here: As discussed above, the recent pullback has traced out three waves to a perfect Fib level of 78.6% on a closing basis. If you are not familiar with Elliott Wave or Fibonacci analysis, that means this stock looks perfect right now. PTLF shares just triggered the RSI sub-40 point yesterday, suggesting that this creep/drift to the downside is now officially over-ripe for some kind of bounce.
It’s also a short-term double bottom pattern at the $0.29 level following the February MACD explosion to the upside. Given that this stock trades on a float under $30M shares, we have to expect a greater-than-typical probability of a “runaway squeeze” move as momentum kicks in, which means one needs to be a little more aggressive with profit-taking if we get the type of movement we are hoping for here.
PTLF (Petlife Pharmaceuticals Inc.) is a company that engages in the research, development, and sale of advanced drugs and nutraceuticals for pet cancer and autoimmune related diseases in the United States. The company has developed and is launching a new generation of potentiated veterinary cancer medications and nutraceuticals, under its new tradename VitalzulTM, based on the same patented formula “Escozine” and production processes that have been scientifically proven as an effective treatment for cancer in humans for years. Escozine (for humans) is currently sold as either a nutraceutical or prescription drug in 40 countries including the US. It also intends to develop products for pets in the areas of arthritis, hepatitis, and Lyme diseases.
