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Technical-analysis

Technical analysis on PROGProgenity Inc. (NASDAQ: PROG) is a biotechnology company that develops and commercializes molecular testing products to improve the diagnosis and treatment of disease. It focuses on fields like women’s health, gastrointestinal health, and oral biotherapeutics. Now trading at $.88, PROG stock, was one of the best penny stocks on robinhood last year despite dropping from its IPO price of $14 per share to below $1. This was largely because it became one of the most popular reddit penny stocks in September – triggering a roughly 518% rally for PROG stock. On the verge of changing its name to Biora Therapeutics (NASDAQ: BIOR), BIOR stock is now one of the cheapest penny stocks on Robinhood 2022. PROG stock price is currently $.90 – a new low for 2022. As the stock trades at its strong support level of $.85 formed in September 2021, its next level of support would be near $.65. However, its trend to the downside could indicate a rebound off of this strong support level and back to its weak resistance at roughly $1. Overall, PROG stock has no clear resistance and could push past $1 with a strong catalyst. The stock has a gap to fill between $1.50 and $1.58 which was created in the sell off at earnings. The RSI is moving up from 53 and the MACD is bearish but approaching a crossover. Meanwhile, accumulation which was climbing at the start of April is slowly decreasing. Bior Stock Short Interest & Options Flow At the moment, short interest is 14.8% of the float but its off exchange short volume ratio is 49.97%. The current short volume of 20.65 million is almost equal to its volume at the end of October when its initial run up began. With 2.3 days to cover, many investors believe something could be brewing for BIOR stock ahead of its earnings report. Using @unusualwhales option flow, its clear that bears are the majority. Despite call volume coming in at 95%, bearish premiums win out at 64.06%. Two whales bought puts with $17 thousand premiums with a far out expiration date of January 19th, 2024. Since BIOR stock is currently trading below $1 its not surprising that the options flow is showing little activity. Considering its current low volume of 2.6 million it seems unlikely that a major announcement is expected in May. However some investors believe that a merger could be coming soon since the company brought Paul Shabram on board to lead Technical Operations for BIOR’s ingestible drug and device platforms – a move that hints at the applicability of BIOR’s DDS and OBDS to major pharmaceutical companies. BIOR Stock Forecast While BIOR missed earnings expectations with an EPS loss of $.56 – $.40 more than analyst expectations – its revenue was $185 thousand more than expected. In light of this, its sell of following earnings could be unnatural. Given its float of 165.4 million, the stock is prone to volatility and depending on the results of its earnings report in May, the stock could gain back some of the ground it lost. Overall, the stock’s current price is much lower than average and a correction could be due. As is, Progenity has a market cap of $157 million, which could make it undervalued given its technology’s potential once commercialized. In the long term, BIOR has the potential for a buyout from a major pharma company like Pfizer, which could results in a major return on investment for shareholders. On the other hand, its technologies’ range of applications could lead BIOR to become a profitable pill manufacturer once its DDS or OBDS systems are approved. Despite its IPO price of $15 per share, BIOR stock has been treading water for a while which is typical of clinical-stage biotech plays that move on binary events like FDA approval. Its worth noting that Raymond James analysts have lowered their price target from $55 to $42 for the stock which is a modest decrease considering the firm’s growth expectations for the company in the long term.
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by Penny_Stocks_Today
Technical analysis on HCDIAs a real estate developer and home builder, Harbor Custom Development, Inc. (NASDAQ: HCDI) acquires and develops lands with scenic views to build its housing projects in Washington, California, Texas, and Florida. After listing some of its Washington projects for $278 million, HCDI stock has seen a surge in trading volume. With a volume of 24.9 million over the past week – a massive increase from its average daily volume of 464 thousand shares – HCDI stock increased 44% overnight. Considering its high short interest and high trading volume, many investors are speculating HCDI stock could be a short squeeze candidate. Currently trading at $2.60, HCDI stock shows a weak support at 2.40 and a weak resistance at 2.66. After HCDI stock’s initial run-up, accumulation took a hit as bag holders left their positions. Currently the MACD is bearish but could be approaching a bullish crossover while the RSI is at 55 after earlier overbuying. Given the company’s solid share structure of 13.2 million OS and its extremely low float of 9.1 million, could continue to move up on momentum. Currently one of the best short squeeze candidates, HCDI stock could continue its run but entering a position at this time presents considerable risk. Stock Repurchase Another pending catalyst for HCDI stock is the company’s stock repurchase program which will allow the company to repurchase up to $5 million worth of the company’s outstanding shares through May 2022. HCDI’s management intends to retire these shares and return them to its unissued shares. This move will reduce the company’s OS by 17% – leaving HCDI stock with only 11.21 million shares outstanding at its current PPS of $2.48. Considering that HCDI already has a low float of 9.1 million shares, this move improves the stock’s long-term outlook. Short Squeeze Despite all of these catalysts, investors are taking notice of HCDI stock due to its short squeeze potential. Since listing its units for $278 million, HCDI stock has been witnessing unusually high trading volume – leading to a 44% surge. According to Fintel data, HCDI stock’s short interest is 23.88% and there are no available shares to short. As a result, HCDI stock could continue its run while swing traders potentially hold the stock for HCDI’s Q1 earnings report on May 12th. HCDI Stock Forecast After increasing its real estate assets by 500% in 2021, HCDI is beginning to realize revenues from these investments. With the company selling a six-acre multi-family lot for $4.48 million and offering 734 units for $278 million, HCDI is on track to deliver on its promise of $160 million in revenues for 2022. As more and more projects are offered for sale, many investors believe HCDI stock could be a profitable long-term hold. However macroeconomic trends such as the Federal Reserve’s interest rate hikes will likely put a damper on home buying activity since mortgage rates are already increasing. These higher payment will impact homebuyers and is likely one reason why short sellers have taken an interest in HCDI. On the other hand, housing is a need regardless of the market. Given HCDI’s focus on the red hot housing markets of Seattle and Austin, the company could weather the storm and prove to be a profitable long-term hold for investors willing to take the risk. Regardless of these long-term trends, HCDI stock is likely one to watch for its short squeeze potential the next few weeks.
H
by Penny_Stocks_Today
Technical analysis on KATXDrawing to the close of its custodianship, Kat Exploration Inc (OTC: KATX) has been building on anticipation for the termination of its custodianship – currently schedule for May 11th. Following the release of its quarterly and annual reports, KATX stock saw a roughly 458% run over two weeks. Now, investors are waiting on impending merger news for this clean shell. KATX stock is currently trading at $.0058 – near its resistance at .006. Meanwhile it shows a support at .005 and a secondary support at .0045. The MACD is bullish while the RSI moves up from 51.08. Accumulation has been holding steady following KATX’s run up. Given its impending catalyst, bullish investors could potentially add shares near $.005 as anticipation builds for the custodianship termination on May 11th. But KATX stock is likely one to watch beyond that for news of its merger. With a market cap of $10.4 million, the stock could be cheap at these levels depending on the merging company.
OTC:KATX
by Penny_Stocks_Today
Netflix clear path going forward In a nutshell for the non- analyst out there : I see a clear move down in Netflix fallowed by a correction and than a final move down. For the wave analyst: This is a clear wave A to the downside in 5 waves , now being in the 5th wave. After the completion of this move down, a correction Wave B will follow and then the final move C down usually equal in length with the first Wave A but much shallower , and not that steep as this wave A. Disclosure: I am not an investor in Netflix, this is my analysis and does not constitute financial advice. What's your take on $NFLX ?
NASDAQ:NFLX
by WavesInvesting
EURNZDMY bias on eurnzd today is to the downside after rejecting the at 61.8 fibonacci retracement level and breaking the trendline, and their is a rumor that newzealand will hike interest rate this might possible drag eurnzd to the 1.57662 level if we are to follow buy the rumor sell the news rule, and if you're looking to buy this pair wait for the break of 1.60000 level before you can decide that buyers are back to the market... do not risk more than 2% of your account on a trade note: this is base on my view only not a financial advice
Short
by AMBAFX
Bitcoin Bullish ProjectionRed lines: resistance levels Green lines: support range Yellow Dashed: Range that I believe will make the bounce / reversal VPVR on the left for better display of resistance / support levels Circled points: Similarities of L shape formations where Bullish Rally followed. Based on the VPVR and the repetition of the circular formations, I make the bullish projection for the price of bitcoin after the end of the bear wave (-15% ~ -20%) from the rejection at $ 48,000.
BITMEX:BTCUSD.PLong
by Gentas_VIP
AUDUSD [Return To Fair Value Area]Good evening, it seems that the AUD is grinding against the Dollar and will inevitably return to the fair value area that it had maintained for some time before the bearish cycle that got cut off early. The reason for this is the increasing uncertainty about the degree in rate hikes for the Dollar, the increasing problem of inflation for the Dollar, and the risk on sentiments churning underneath the hood all of which contribute to the bullish scenario we have been seeing the AUD experience against the dollar. The technicals seem to indicate exhaustion, but in my opinion, this is simply accumulation prior to the big move in my humble opinion. The bulls seem to be holding the break of its prior bullish channel on the upside quite well, as they'd need a quite strong bullish move to establish the AUDUSD within proximity of its past fair value area. Now, this is only speculation and not financial advice... but I personally will be going long on the AUDUSD, will give an update on the outcome of the play. God bless, trade safe.
Long
by ExpandYourMind
$omi buy zoneThesis: Using Elliot wave theory from our 1-5 correction with a trend-based fib from 1-2 we've retraced back down to our 1.618 level. That level is also shown in the past looking at our green box to be a clear area of support. Using a trend line from Jun 2021 if we look at recent price action it lines up with the idea of this being a local bottom. I personally bought $350 @ 0.00285 and will be buying another $350 if we can reclaim support above our resistance line from March 2021.
OLong
by isaiahescobarrr