This is a more risky play since its a long on a downwards trend, but the risk to reward of this play is too juicy to pass up. If you were to enter at the high as of today then has a risk to reward play of 11. historically when this stock has a sharp drop and there there is bullish divergence on the weekly, it popped back up very quickly very quickly after a sharp drop .Of course there is no guaruntees but with such a high RR I think it's worth considering
We don't quite see bullish divergence on the weekly but if we take a look at the daily it paints a different picture.

With this bullish divergence on the rsi and William R% I find it unlikely for it to break below the support and while the MACD is on the positive side slowly ticking down, I believe it with the other factors in play it is likely could parabolicly start ticking back upwards or complete it's cycle while the price action moves sideways and pops up when the MACD starts moving from the negative to positive side.

We can increase the risk to reward even more if we wait a couple more days and it will likely test the lows of Dec 5 and 6 which is 13.15 .
zooming out this could also be a stock to keep in your watch list as it seems to be in the procewss of forming a falling wedge .


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out