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Volatile ride for Progenity, Inc. stock price on Friday moving between $3.97 and $5.15

StockInvest.us, 1 month ago


The Progenity, Inc. stock price gained 13.72% on the last trading day (Friday, 19th Nov 2021), rising from $4.30 to $4.89. During the day the stock fluctuated 29.72% from a day low at $3.97 to a day high of $5.15. The price has risen in 6 of the last 10 days and is up by 38.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 44 million more shares were traded than the day before. In total, 122 million shares were bought and sold for approximately $594.87 million.

On Nov 04, 2021 "Stephens" gave "" rating for PROG. The price target was set to $3.45+10.9%.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $5.11 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 349.93% during the next 3 months and, with a 90% probability hold a price between $14.45 and $22.98 at the end of this 3-month period.

Progenity, Inc.

The Progenity, Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.06 and $3.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, November 12, 2021, and so far it has risen 64.65%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Progenity, Inc. finds support from accumulated volume at $4.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.18 between high and low, or 29.72%. For the last week, the stock has had a daily average volatility of 26.63%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Progenity, Inc. stock to perform well in the short-term.

Check full Progenity, Inc. forecast and analysis here.