Hubert Senters here.
Had a question from a viewer what I thought about PRGO where I think it might go next. Let’s take a look. I’m assuming you’re long since it’s above the cloud and everything.
It did have a pullback on Friday which is a decent purchase area right there on the turning line. Let’s see where it’s been in the past here.
So let’s just do an ambush trade here for a target. An ambush trade is just a 50 percent ratio from a high to the low or from a low to the high.
Since we’re bouncing here above the cloud. You got a nice little pullback entry here around $47.73. Then I grab the fib. And put it right here. And then drop it down right here.
And as you can see that area is being tested so it’s pulling back. It will probably chew to it because it’s in a decent uptrend so idealistically you’d buy it around $47.73 and let it see if it can go back up through $61.
Now, for me I’m a little bit more conservative what I would say is I would rather buy the breakout of $49.37 and target through $50 because if it goes through the $49.37 then it will tear to $50 and then it will head to a $56. That’s how I would approach it.
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Good luck. Hope it helps. See you on the next video.