WBD
is trading around the Fibonacci support inside a channel. Breaking below the current critical support, there is a possibility of further downside. Support levels to watch if the stock goes south:
$7.40
$6.72
$5.63
While MACD and RSI are showing bullish divergences, it remains to be seen since oscillators are not showing a similar divergence. As a result, there is no clear indicator of where the stock could go at this point. ER might have to be the tie breaker.
If it manages to break out of that channel, it can run to the $12 area. But it is a big if currently.