Progyny Inc. (PGNY) does not have a long history of trading but what we see so far is bullish. One Real Money subscriber asked if it was too late to go long this company that describes itself as a "benefits management company specializing in fertility and family building benefits solutions."
Let's check out the charts of PGNY.
In the daily bar chart of PGNY, below, we can see that the shares traded sideways in the $30-$25 area for several months before launching a rally to the $60-$65 area. Prices are trading above the rising 50-day moving average line and above the rising 200-day moving average line too.
The On-Balance-Volume (OBV) line started moving higher in early November and is close to making a new high for the move up. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish mode.
In the weekly Japanese candlestick chart of PGNY, below, we can see a bullish picture. Prices are in an uptrend and trade above the rising 40-week moving average line.
The weekly OBV line is strong and rising. The MACD oscillator is bullish.
In this daily Point and Figure of PGNY, below, we can see a price target of $74.
In this weekly Point and Figure chart of PGNY, below, we can see a target in the $102 area.
Bottom-line strategy: Traders could go long PGNY at current levels and on a dip toward $60. Risk to $54 for now. The $74 and and then the $102 area are our price targets.
