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Pitanium's 15min chart triggers MACD Death Cross, bearish Marubozu signal.
ByAinvest
Monday, Sep 22, 2025 12:19 pm ET1min read
It appears that the 15-minute chart for Platinum has triggered a MACD Death Cross and a Bearish Marubozu on September 22, 2025 at 12:15. This suggests that the stock price has the potential to continue its downward trend, with sellers dominating the market and bearish momentum likely to persist.
Palatin Technologies (PTNT), a biotechnology company focused on innovative treatments for obesity and ocular diseases, has been in the news with several significant developments. On September 22, 2025, the company announced a milestone payment from its collaboration with Boehringer Ingelheim for developing first-in-class melanocortin receptor-targeted treatments for retinal diseases [1]. This partnership is expected to bring in €5.5 million ($6.5 million) as a milestone payment, with potential future payments totaling up to €278 million ($328 million) [1].Additionally, the company reported a 1-for-50 reverse stock split effective on August 8, 2025, aiming to increase the per-share price to meet NYSE American's listing qualifications . This move was approved by stockholders and is expected to improve the company's liquidity and stock price.
Technically, the 15-minute chart for Palatin Tech (PTNT) has triggered a MACD Death Cross and a Bearish Marubozu on September 22, 2025, at 12:15. These indicators suggest a potential continuation of the downward trend, with sellers dominating the market and bearish momentum likely to persist .
The current stock price of Palatin Tech (PTNT) stands at $8.64 as of September 19, 2025 . The market cap is approximately $8.0 million .
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