We are becoming pretty oversold, looking for a bounce back up as soon as the rebalancing finishes. Considering we were at $18 just a couple of months back, I believe this trade up to 10 even 12 dollar range poses a good risk/reward at this level. It is trading at 8.8-8.9 level as of writing this.
PT #1 9.88
PT#2: 10.3
Pt#3 : 10.8-11 area.
Keep a tight S/L - below 8.5 will likely send it lower to 7.8
PT #1 9.88
PT#2: 10.3
Pt#3 : 10.8-11 area.
Keep a tight S/L - below 8.5 will likely send it lower to 7.8
Comment:
Bounced off 7.8. Sitting at 8.5. New trade in play is S/l 8.14 entry 8.24-8.37. PT 9.2, 10, 10.8