Timeframe: 2-4 wks
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
You’re likes and comments encourage me to...
I am still a believer in the long term prospects for this company. I took profits because I think it may come under selling pressure when the convertible note converts to common stock. Something that will take place over the next couple weeks.
// ---> Here is a paragraph from yesterdays share holder notice:
The Company’s expected use of proceeds from the Notes...
PROGENITY! Lets follow the money.
Thesis: Why did Progenity performed an impeccable comeback from the short raid today?
Lets pretend that you found PROG the day before the market opened today and you are looking at the candle stick marked with a white arrow.
You'll probably looking for a concerete answers on these...
If you followed my prior videos you bought this trade early in this cycle. I still think some strategic moves are in play. In either case plan to hold through $8 and evaluate the technical situation then.
Reward/Risk: 4.6(R/R>3 is Ideal)
Time frame: 1-4wks
This is just my technical view, not a fundamental comment..!
I can make you confused you by a crowded messy chart, but I would rather simple effective presentations..!
Here is my latest analysis of Progenity, Inc. Possible that Illumina Inc or Johnson and Johnson would want to buy this to protect their portfolio of pre-natal testing products? In either case it could play out.
I posted this idea a couple of days ago. After hours on Friday news came out via an S-4 filing with the SEC that CEO Harry Stylli bought 152,905 shares of PROG stock on the open market. He currently owns 14,616,874 shares in total.
News came out that a secondary was taking place @ fair value for this stock which is quite beat up. With an option to buy an additional 1.146 million shares at $3.27. This is extremely bullish for the short term prospects on this stock.