Last time this stock did a boom and bust in 2008 it took the rsi to 40 until we started to bottom. But this time it's even more extreme, i think this stock has to see at least 50 usd per share before it can recover. But even then i wouldn't buy, it's a pretty shitty stock.
I feel like in a few years from now this could go up from where we are now. Nobody believes in cathie wood anymore but genomics is the future. But this got way ahead of itself. I don't expect this to moon anytime soon also
This stock is rekt hard. But it's one of the only mj companies that actually make a profit. And also the business is like selling shovels in a goldrush. If i didn't had a position already would totally buy this here.
This stock used to be way overhyped but now we came down to reality. Fundamentally speaking it's not a bad stock. AI is the future. Based on fibs this is the bottom or we make a final low to 9 range. I don't think it will go that low.
A trader buys low and sells high. Usually with volatile stocks like these that will mean buy when sentiment is worse vice versa. If rsi goes under 30 you buy, over 70 you can start to unload because this stock tends take some time to form a top.
In essence trading is using people emotions to your advantage. When something is oversold you buy, when overbought you sell. Because this is a very volatile coin i think trading the rsi works very good.
This is my bear market scenario when bitcoin makes new lows into the 20k range. Unless sentiment really improves i don't see this make new all time highs. Especially since it already gone 100x since the all lows. But long term i'm bullish, this is a really good project.