I believe this rebound in RGTI will ultimately be a bull trap, but this could be a very strong rebound given how fast we plunged from $20 to $6. I'm on lookout to renter short if we start to make it to ~15.50 (61.8% Retracement). My chart shows the viewpoint from Log and Linear since we are dealing with such large % changes both viewpoints are helpful. Reminder that earnings is not until probably late March. It's possible my target isn't reached and we go down from here...
$15.50 -> Half position short
$18.00 -> Full position short
$15.50 -> Half position short
$18.00 -> Full position short
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We are halfway today, putting half short.
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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.