Long
PROG Break OUT
Depending on your trading plan, PROG gave a few setups.
You could have been swinging this since OCT reversal on the 4 hour. Multiple Day Trades and scalp opportunities if you had it on your watch list or got it off a scanner.
This came up on my pre-market scanner. I took profits on the first trade as it ran in that 4.25 area to the 5.00 area early in the AM when it dipped I bought some for a swing and potential squeeze play.
This is a penny stock so with those you have to have a plan or TRUST me you will be bag holding or selling for a LOSS. Going to watch the morning tomm and be ready to take profits.
When I got in the second time, I liked the price action above the 4.30 and was watching power hour if I should cut it or let it run. I liked power hour and after-market trading hours.
So my next check box is to wake up early, get some happy coffee, and be ready in Pre-market trading for any abnormal movements. If the price action is bouncing off my bullish trendline I'll keep it running. If it breaks it, I'll get out and keep it on watch.
In an overall view, this is a HIGHLY short interest stock and can go up fast and go down. So that is why I'm watching my stop loss and profit target tomm to see if this is a multi-runner or it will lose steam. A few catalysts are conferences coming up and presentations and earning calls and buy-out rumors which I take with a grain of salt. Just riding the waves and dipping out with profits.
The areas highlighted in circles are convergences and divergence of MA and higher lows and areas of support before the next leg up. The Blue Trend line is just a line in the SAND of bad trade and I should not be in it. Green Trend Line is bullish if it will keep breaking out. The Red Trend line is the resistance that might come into play. Pink Dotted is just the overall new high and if it stays as support.
Have a Happy Day
You could have been swinging this since OCT reversal on the 4 hour. Multiple Day Trades and scalp opportunities if you had it on your watch list or got it off a scanner.
This came up on my pre-market scanner. I took profits on the first trade as it ran in that 4.25 area to the 5.00 area early in the AM when it dipped I bought some for a swing and potential squeeze play.
This is a penny stock so with those you have to have a plan or TRUST me you will be bag holding or selling for a LOSS. Going to watch the morning tomm and be ready to take profits.
When I got in the second time, I liked the price action above the 4.30 and was watching power hour if I should cut it or let it run. I liked power hour and after-market trading hours.
So my next check box is to wake up early, get some happy coffee, and be ready in Pre-market trading for any abnormal movements. If the price action is bouncing off my bullish trendline I'll keep it running. If it breaks it, I'll get out and keep it on watch.
In an overall view, this is a HIGHLY short interest stock and can go up fast and go down. So that is why I'm watching my stop loss and profit target tomm to see if this is a multi-runner or it will lose steam. A few catalysts are conferences coming up and presentations and earning calls and buy-out rumors which I take with a grain of salt. Just riding the waves and dipping out with profits.
The areas highlighted in circles are convergences and divergence of MA and higher lows and areas of support before the next leg up. The Blue Trend line is just a line in the SAND of bad trade and I should not be in it. Green Trend Line is bullish if it will keep breaking out. The Red Trend line is the resistance that might come into play. Pink Dotted is just the overall new high and if it stays as support.
Have a Happy Day
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.