Bottom or Dead Cat?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