Morning Stock Analysis

$AGRX Technical Analysis 06/28/2022

$AGRX made moves on 06/28/2022. Here is an analysis of the stock price action.
Published: 06/28/2022 3:34 pm
Updated: 06/28/2022 3:35 pm
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June 2022 | Money Placement

Below is an analysis of the stock price action for Agile Therapeutics (AGRX). You can find a recap table at the end of the page. The content on this page is not financial advice, but is for educational purposes only and merely cites our own personal opinions. You can find the full disclaimer here.

Agile Therapeutics (AGRX)

AGRX had a bit of a gap and fade day yesterday. Today it gapped up premarket, reaching the same levels as yesterday. This is a possible indication of an upward move because there are most likely going to be short positions that need to cover who previously shorted yesterday against that 2 level. It made a slower grind on the open, breaking that 2.25 level. It looked like it was going to make a retracement after reaching that level due to decreasing volume and decreasing RSI, but instead it made a push up to the 2.75 level. It consolidated there for a little when then faded to VWAP. It broke down past VWAP but found support at the 2 level from yesterday and today's premarket. It then made a slow grind to 2.75 for a possible breakout and squeeze. It did see some volume come in on the break, but not even for a squeeze and aggressive further push up. It faded and had another test of the 2.75 level but it hit resistance. It ended up pulling back to VWAP and closing over VWAP. I think if this can hold the 2.25 level and make a slower move to the 2.75 tomorrow, then it might see a squeeze up to 3. However it can't hold 2.25 then it might fade to 2 and possibly further.

Shares: 0-5milIndustry: PharmaceuticalsCatalyst: ContinuationATR: 0.25 - 0.50Time Frame: 1 Minute
Breakout Level: 2.75Resistance: 2.5Support: 2.25
AGRX Daily Chart

Recap

AGRX
Shares: 0-5milIndustry: PharmaceuticalsCatalyst: ContinuationATR: 0.25 - 0.50Time Frame: 1 MinuteBreakout Level: 2.75Resistance: 2.5Support: 2.25