WELL.V -- Extremely Oversold with daily RSI < 20

Playing WELL.V for oversold bounce (bought $1.15). Fib. support holding strong at $1.12. Stop loss just below that to limit risk.

Background: Recent selloff is due to $1.45 warrants coming online on Oct. 11th. Shorts likely piled on + retail panic sold.

Looking for shorts to start covering and technical traders entering positions in the next few days.

Comment:

Looks like I caught her right near the bottom! Lovely bullish engulfing candle today and 14% bounce. Looking for reversal confirmation tomorrow.
$1.45 warrants are coming loose and I think the shorts might have overplayed it. Holding to see what happens.

Trade closed: target reached