The weekly candle is currently sitting on the POC and the 50MA.
If this give sup a capitulation is likely to the $100 region.
Since the earnings disaster the company has been been tight
lipped and the positive PR's have came to a dramatic halt.
Having lost major support on the daily chart, the 25% short
interest will see this is as a easy feast in the making as tax loss selling
could intensify the selling in coming days.
Longs must be very worried and rightly so.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.