Here’s your trade on Prometheus Biosciences ($RXDX) – September 7, 2022

by DAN RXDX 
I wanted to show you Prometheus ( NASDAQ: RXDX ), not because of really, not what it did today but because of what it might do tomorrow.

I look at this and the technical term for this that I just made up is a bull sandwich. Where you’ve got, here’s the bear meat right here and it is kind of sandwiched between 2 slices of bread. Here it is kind of a, just use your imagination. A nice move higher, then a big slam down, and then finally another move higher, as well, from here. So I am really looking at any move above $60.00 as the beginning of another leg higher.

Now, this stock has been trading in a pretty tight range. The Bollinger Bands just kind of from an absolute standpoint are still pretty wide. But when you look at the way this stock is trading, traded they are actually pretty narrow.

So I think this is a good volatility squeeze. A move higher last Thursday on volume. So now, if the stock runs above 60.00 I would look to buy more.

Free Chart