PRGO breaks supportPRGO has been declining ever since its April 201 peak. However, over the past three months the stock tested the $140 level (red) as support on multiple occasions, thus creating an important 52-week low support at that mark. Now that the $140 level has been broken, the stock should be taking another step lower.The Tale of the Tape: PRGO broke a key level of support at $140. A trader could enter a short position on any rallies up to or near $140 with a stop placed above the level. If the stock were to break back above the $140 level, a long position might be entered instead.Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!Good luck!Christian Tharp, CMT@cmtstockcoach