Recent MACD cross and on the ADX D+ crossed D-. Price finally closed outside of the triangle after 6 or so attempts. The 2 most recent candles also managed to close above the .5 fib level. I would like to see the price remain above the descending trend line.
Target: 26 (resistance), 26.44, 27.67
Contextual immersion trading strategy idea.
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States.
The share price fell after bad earnings. Looks like it will continue falling.
The demand for shares of the company still looks lower than the supply.
This and other conditions...
Pros:
- MACD and FI divergence
- Spinning top/doji + big green candle, followed by a hammer with a really long tail. (Bear lost their strength on the big push down)
Cons:
- Profit target may be quite limited as the range will only allow for about 1.5-2R until a breakout occur
- Not clear uptrend on daily and downtrend on weekly
Overall Trade Grade: TBD
Pros:
- MACD and FI divergence
- Spinning top/doji + big green candle combo for entry signn
Cons:
- Profit target may be quite limited as the range will only allow for about 1.5-2R until a breakout occur
- Not clear uptrend
Overall Trade Grade: 79% (9.5/12)
Trend: 1.5/3
MACD: 3/3
Force Index: 3/3
RSI: 2/3
Added 300 more shares to PRA
I will watch until the Cows come home.
However, I don't see them in the pasture.
Drat.
A patient investor could soak up the 3% Dividend, for now.
Beautiful clean bounce off of the golden ratio # 61.8 - there is support at this price level.
RSI says underbought - what a deal folks! buy, buy, buy! Earnings SOON and were going back to 62$ price level
PRA has had a big gap down that opens for a mean reversion towards my standard target for these setups at 5 MA at daily. If you would like a secondary target that normally gets you in security a bit earlier you can scale out with some of your posistion at Connors RSI reading with close above 70 on the daily.
Stop and target is dynamic at 5 MA as use of stop...
![PRA: PRA Long on Descending Channel Divergence [Entry Attempt #2]](https://s3.tradingview.com/z/ZDDXqouX_mid.png "PRA Long on Descending Channel Divergence [Entry Attempt #2]")
