PROG Behaving Like a Normal Stock Finally

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I've been hoping Progenity would consolidate after an overheated run up to $4+ this quarter and I finally got my wish. As predicted with a 'Meh' earnings it's had its violent swing but it's been holding the 50 EMA on an intraday basis and if that can continue it might be a good play for additional swings. As far as fundamentals go: Look it's a biotech company. You know the drill.

A potential downtrend is still in the cards as the entire market is overheated and we need a double digit correction in general imo so I won't be going long without a good reason. If this stock follows the market you're looking at a hypothetical test of the 200 EMA at least at $2.46.

Regardless, if you wanna risk it there is an earnings gap freakout (an overreaction in my opinion) that will probably be filled in the next week. Do what thou wilt.

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ملاحظة

Now that I look at it there's a bullish continuation from Nov 3 and Nov 11. I might open a position to see if that gap is filled.