When Progress Software (PRGS) Moves Investors should Listen

July 24, 2021, 15:45 pm ET, BY Barry C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Progress Software (NASDAQ: PRGS) report below is a real world example. Included are trading plans for PRGS, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for PRGS

• Buy PRGS slightly over 44.73 target 47.34 stop loss @ 44.6 Details

The technical summary data tells us to buy PRGS near 44.73 with an upside target of 47.34. This data also tells us to set a stop loss @ 44.6 to protect against excessive loss in case the stock begins to move against the trade. 44.73 is the first level of support below 46.27 , and by rule, any test of support is a buy signal. In this case, support 44.73 would be being tested, so a buy signal would exist.

• Short PRGS under 47.34, target 44.73, stop loss @ 47.48 Details

The technical summary data is suggesting a short of PRGS as it gets near 47.34 with a downside target of 44.73. We should have a stop loss in place at 47.48though. 47.34 is the first level of resistance above 46.27, and by rule, any test of resistance is a short signal. In this case, if resistance 47.34 is being tested, so a short signal would exist.

Swing Trading Plans for PRGS

• Buy PRGS slightly over 47.34, target 50.24, Stop Loss @ 47.2 Details

If 47.34 begins to break higher, the technical summary data tells us to buy PRGS just slightly over 47.34, with an upside target of 50.24. The data also tells us to set a stop loss @ 47.2 in case the stock turns against the trade. 47.34 is the first level of resistance above 46.27, and by rule, any break above resistance is a buy signal. In this case, 47.34, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short PRGS near 47.34, target 45.85, Stop Loss @ 47.48. Details

The technical summary data is suggesting a short of PRGS if it tests 47.34 with a downside target of 45.85. We should have a stop loss in place at 47.48 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 47.34, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for PRGS

• Buy PRGS slightly over 46.66, target 47.34, Stop Loss @ 46.55 Details

If 46.66 begins to break higher, the technical summary data tells us to buy PRGS just slightly over 46.66, with an upside target of 47.34. The data also tells us to set a stop loss @ 46.55 in case the stock turns against the trade. 46.66 is the first level of resistance above 46.27, and by rule, any break above resistance is a buy signal. In this case, 46.66, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short PRGS near 46.66, target 45.85, Stop Loss @ 46.77. Details

The technical summary data is suggesting a short of PRGS if it tests 46.66 with a downside target of 45.85. We should have a stop loss in place at 46.77 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 46.66, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

PRGS Ratings for July 24:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	44.73
P2	45.38	44.48	47.34
P3	46.66	45.85	50.24

Support and Resistance Plot Chart for PRGS

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