A bullish reversal propelled by a bullish divergence on the MACD
Price will likely continue up to the top of the wedge, and then continue the downtrend.
This is just a temporary bullish time.
1H Chart, Progenity, Inc. ( PROG ) on February 22 2022, the signals are on their third intent to pierce far below the MACD; The RSI signal is also below 30 showing a shy movement north east; Inside the chart the price is far below the 100/200 MA signals but still over the last too deeps before the last 100/200 MA signals piercing on FEB 03, if the price finds...
we starting to make higher lows, to confirm the reversal and price pump up we should hold above the 1.43$, then we will see a test for 2 resistant areas , first at 1.80$, second at 2.11$.
Progenity, Inc., a biotechnology company, provides develops and commercializes molecular testing products in the United States. It offers Innatal, a noninvasive prenatal screening test offered to women early in pregnancy to screen for chromosome abnormalities, such as down syndrome, trisomy 18, trisomy 13, and sex chromosome disorders through the analysis of...
Progenity has been in the same cyclic pattern since late September and has followed a trend carefully. The last high of $6.20 formed a rising wedge which is looking close to a breakout.
The MACD and RSI indicate a reversal, as well as the 20/50/100/200 EMA (not shown on the chart). The trend has not fallen below the 200 day EMA + the Fibonacci Time Zone...
RSI is at overbought conditions. However the trend seems to be strong therefore we expect continuation toward the next resistance which would be our entry price for short position. The target as in the chart.
No financial advice
If you haven`t bought PROG at my first call, at 1.29usd:
Then you should know that Piper Sandler has a $5 price target for it!
We are not there yet. We still have upside potential on this one!
Check out that massive divergence after a few unusually quick in succession zigs. The momentum drew lower peaks each time on the a new high. Directional movement is also indicating a downward move.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple...
Progenity is a biotechnology company wich provides, develops and commercializes molecular testing products in the United States.
ON 7/29/2021 Steven Mah from Piper Sandler brokerage Boosted the Price Target to Overweight from $3.00 to $5.00
My price target is the 2.5usd resistance.
52 Week Range 0.65 - 9.56
Don`t forget last month`s 40mil offering at $1.49...
