PROG Behaving Like a Normal Stock Finally

12 พ.ย. 2021

I've been hoping Progenity would consolidate after an overheated run up to $4+ this quarter and I finally got my wish. As predicted with a 'Meh' earnings it's had its violent swing but it's been holding the 50 EMA on an intraday basis and if that can continue it might be a good play for additional swings. As far as fundamentals go: Look it's a biotech company. You know the drill.

A potential downtrend is still in the cards as the entire market is overheated and we need a double digit correction in general imo so I won't be going long without a good reason. If this stock follows the market you're looking at a hypothetical test of the 200 EMA at least at $2.46.

Regardless, if you wanna risk it there is an earnings gap freakout (an overreaction in my opinion) that will probably be filled in the next week. Do what thou wilt.

14 พ.ย. 2021

บันทึก

Now that I look at it there's a bullish continuation from Nov 3 and Nov 11. I might open a position to see if that gap is filled.