...unless it has hit the ground. Today's steep fall hit the monthly support. I guess that this may be a temporary bottom at least. So that I assume that we may see a correction up from here.
Been looking at PRGO ALL DAY. IT's had MANY amazing tweezer tops and roll overs for good entries. This is a LOD break, looking for a retest to go short.
Naked put is below strong support, below the 10, 20 , 50 ema and below the 100 SMA on the daily. Today was a good gap with nice volume. If PRGO makes a HH tomorrow or the next day, strong bullish MSR. I therefore would be more bullish than bearish.
The first bearish setup, the bearish Cypher (Elite Zone only), already reached both of its target levels.
Now $PRGO is presenting two possible continuation trade setups.
1. Major structure zone.
2. Possible Harmonic pattern completion
*The full explanation is this week's Weekly Markets Analysis
This setup is part of the Weekly Markets Analysis newsletter...
Cypher pattern completion in $PRGO before earnings. Despite the bearish Cypher, there are important technical elements we need to monitor. Several supports need to be broken to confirm bearish setup.
Read the full analysis in the Weekly Markets Analysis newsletters:
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I think here we have everything that we need to open a short position :the huge volume of trading on the falls ,
unsuccessful top-level breakdown, the EMA 50 line, which can serve as a stop, hundred, as excellent psychological target.
