It has resistance over head at .75 in the long term chart which also shows bad history of failed spikes. It hit .75 and didnt spike past it today. It got stuffed.
It also has intraday resistance at .55
Dangerous trade to be in imo. Id be looking at a potential O/N first red day short depending on how the rest of the day goes. Im out of day trades in mt IB account to be able to day trade it. Otherwise i wouldve already shorted this today. I tried shorting it yesterday after hours and lost. Flipped long at 45ish and got scared out and lost again. Really dumb move on my part burning 2 day trades, but this set up is looking clearer to me now.
I hope it's not dead yet. I got in this morning but before the dip. So I'm in a too high. Would love it to get back to at least .75. Fingers Crossed. If not I'll just cut my losses and move on.
@LBJ40 https://youtu.be/9F65dSTGhkY
You might get fortunate and have a bounce in the morning, especially if they end up dropping news like everyone is expecting. But I'd sell into whatever strength there is.
Yea I don't plan to hold on to it very long. Just long enough to make some of it back or at least lessen the blow. Only had 500 shares so not too bad.
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