The price is currently confined below the red trend. As you can see there is head and shoulders pattern, positive sign. The price is currently centered under the channel. In order for the price to be freed from this area, it must break the descending trend in red. Then break the neckline shown in red. Perhaps it reaches Anchored VWAP and may give us a new bottom....
It must break the trend, the entry point on the chart.
1- Previous bottom became a good resistance. 2- Very good supply level on the daily. 3- A bearish candle on the weekly. 4- Very negative bearish trend. 4 points will push the price for more decline. 138 is important technical level, if the price break it, it will push the price for more decline! The main question what is the level will support the price to...
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%80 up %20 down Short % of Shares Outstanding (Jun 14, 2020) 15.59% Shares Short (prior month May 14, 2020) 37.73M
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Entry point and heading to $21, we may see more than that before this year end. Main target is $100.
Second entry point and target, we may see a very high price before this year end. :)