PGNY, Best Case Scenario! We keep it on watch.

SaeedSajedi Pro Updated   
NASDAQ:PGNY   Progyny, Inc
PGNY can bring us a huge profit! It's major correction has been ended? Probably yes. ! Lest follow the analysis to see the details.

As shown on the chart , PGNY has beautifully completed 5 leg up wave from IPO to ATH . This all way up can be labeled as primary wave 1. There is no doubt about completion of this long term up going wave. Do we have the completion of correction of the mentioned wave at the last bottom? Probably yes. Here we used " Probability" concept to show although low chance , there is still a possibility for primary wave 2 to go further down to 25 USD corresponding to 0.786 Fibonacci level of primary wave 1.

Lets consider completion of primary wave 2 at the last bottom corresponding to 0. 618 Retracement level of the all the way up from IPO. In this best case scenario, PGNY has started long term primary degree wave 3 which can push the price up to 120 USD and even higher. In this case, PGNY has recently completed it's minor degree wave 1 of primary degree wave 3 ( There are some variations for wave degrees which we skip for now).

When wave 3 of 3 which is the most profitable wave is going to start? After completion of minor degree wave 2 which can be at 43, 40 or 37 USD corresponding to 0.5, 0.618 and 0.786 Fibo levels respectively. For now all this levels are possible.I give more chance to 40 and 37 prices considering the wave characteristics.

Please note, We are taking about possibilities not certainties. Therefore, first we need a strong bullish sign at proposed supports and second we have to set our stop loss carefully and objectively. If this best case scenario does not happen we can wait for 25 USD to make even more profit in long term.

Good luck every one.

Comment: It is reaching to our second support level relating to 0.618 Retracement of the last move up however, down going wave shows impulsive and not corrective character.
Therefore I do not open my pre-planned long position and still keep it on watch.
Comment: We know that this chart is showing Best Case Scenario. We have our warning on orange rectangle.
Comment: Still watching ! Best case scenario may not happen. Now its going to next Fibonacci level.
Comment: Now, as mentioned before, we are at 0.786 retracement level and we have strong bullish reaction in the whole market.
We can set our stop loss carefully and open our long position.

Good luck everyone and enjoy trading.
Comment: so far, Lost the 0.786 Retracement level. Try not to buy the dip in this volatile market.

It is now more possible for PGNY to see 25 USD. Please be cautious.
Comment: Strong bullish reaction to proposed support at 25 USD relating to 0.786 Retracement level !
Comment: Just look at how it beautifully started a massive profitable (60 %) profit exactly at 0.786 Retracement level. See my two last updates on this analysis.


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