The thoughts were triggered by a twitter sharing from someone else.
This is for LONG.
Look at daily, could be a local bottom looks like a 50/50.
Weekly definitely says very likely there is new low ahead to form a reversal on a weekly basis. Also kissing weekly cloudy is likely. Given how steep the cloud back it is, it is possible to see a deep drop and followed by immediately brutal pull up if this name truly wants to go higher.
Monthly, I feel if no immediate reversal, at least need to wait one or two months.
So the best R/R for now, imo, is a near term bet for target area. Ideally it is 12/4 545 - 565 - 585 butterfly. But given how large the bid-ask is, likely will wait for weekly reversal.
Play safe.
This is for LONG.
Look at daily, could be a local bottom looks like a 50/50.
Weekly definitely says very likely there is new low ahead to form a reversal on a weekly basis. Also kissing weekly cloudy is likely. Given how steep the cloud back it is, it is possible to see a deep drop and followed by immediately brutal pull up if this name truly wants to go higher.
Monthly, I feel if no immediate reversal, at least need to wait one or two months.
So the best R/R for now, imo, is a near term bet for target area. Ideally it is 12/4 545 - 565 - 585 butterfly. But given how large the bid-ask is, likely will wait for weekly reversal.
Play safe.