Just to add to my earlier in the week post. Today is the more appropriate time to be posting a weekly chart and its closed out within that support zone.
I'm not here to cast a bunch of negatives but the stock has also seen a huge increase in the short position. That's a serious move after the stock has already retraced so much. Keep in mind that these positions were opened at the start of this week therefore they are already in the money.
And while here, a quick look at the daily and it tells me that a bit of sideways trading is incoming as there's too much trading outside of that lower bollie. While that's happening, keep an eye on MACD to see if that gap keeps widening as that will be a pretty good tour guide for momentum. IMO.
Folks might be thinking that it's oversold but nah, has a bit to go before 20 is tagged.
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