Here’s your trade on Progyny ($PGNY) (February 24, 2020)

by DAN PGNY 
One thing you might want to look at is Progyny ( NASDAQ: PGNY ). I like this company, it has good fundamentals; you see where it opened up here, it hasn’t been trading for very long. It doesn’t hit the 50-day moving average much; the last time it did, well, the 50-day moving average has only been effect since about January 7th or 8th, something like that. It came back here and it rebounded and gave us a really, really nice move

Well, now it is a little bit steeper, you know what happened today. The low of the day was 28.05 so what you can do, if you like this type of trade, is place a stop at like 27.95 just a little bit below today’s intraday low. You don’t want to put it right on the even number; oh I will sell if it hits 28.00. No. Frankly, your chances would be better if you said 27.95. Set your stop at 27.95 and then just look for a little bit of a rebound here. That’s all I am looking for with Progyny ( NASDAQ: PGNY ) right now.

I would like to kind of build a position on this because I like the stock and I think it ultimately goes higher. But building a position starts with one little pilot buy and so I think that is where we start on this on tomorrow. If it falls down here then thank the good lord we only took a small position. If it runs up here, well, thank the good lord at least we bought some stock.

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