[theory6453]

My current favorite of those I found is PRGN as it rose about 40% since its breakout about 2 weeks ago on a great volume spike. PRGN was in a Stage 1 base for about a year prior to this. It’s above the MA, the MA is starting to rise, the relative performance is rising and just popped over the zero line, and finally cleared its overhead resistance. The current P&F price target is $17.75.

Not for the faint at heart, but PRGN had a MASSIVE pullback this past week but held against the breakout/support we identified recently. If I'm not mistaken, this is EXACTLY the setup that Stan put forth in the Investor method. The volume is very strong and the MA is still rising. The relative performance obviously took a major move downwards but it's still above the zero line.

I will probably sleep on it but I would seriously consider making an entry into this Monday morning when the markets open. I already own 2 stocks in the Marine Transpo sub-group so a third position might weight my portfolio a little too heavy towards this sector but I thought everyone would like to see it and make their own decision.

If I were to enter it, I would look for it to hold support at around $6.00 and then if it did violate support, I would have a pretty tight stop on in the $5.70 - $5.80 range.