Posted On: 03/16/2014 8:31:01 PM
Post# of 2561
PGNX Daily Chart ~ Continued Downside
Since our exits (link back to Feb 9 comments) in the mid 6.00s to low 7.00s, PGNX has continued to churn and decline after its failure to close decisively above the MA200 and 100. On Friday, the stock broke below a horizontal support line which has been in place since December. PGNX is on a high watch for me now since the FullSto and MACDs are in very oversold territories. A test of the lows of the grouping of the 3.40s to low 4.00s, seen in November, could occur be seen prior to a reversal. We'll be watching closely for a re-entry. GLTA
Since our exits (link back to Feb 9 comments) in the mid 6.00s to low 7.00s, PGNX has continued to churn and decline after its failure to close decisively above the MA200 and 100. On Friday, the stock broke below a horizontal support line which has been in place since December. PGNX is on a high watch for me now since the FullSto and MACDs are in very oversold territories. A test of the lows of the grouping of the 3.40s to low 4.00s, seen in November, could occur be seen prior to a reversal. We'll be watching closely for a re-entry. GLTA
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