I think that we all agree that this stock is shitty and catching a fallen knife is not a good idea. However if you would like to do a speculative trade this is an attractive option.
The stock has just touched 12.36 level (20 x 0.618). Let me do the math for you:
All time high: 48.99
48.99 / 12.36 = 3.963
Current low: 3.97
In addition to this the price has just touched a bottom of Gann fan .
I believe that short sellers will be fearful to sell at this price and we'll see a pull back. I don't know the exact PT, since the stonk is shitty, but I feel that it would be at least 50% up.
The stock has just touched 12.36 level (20 x 0.618). Let me do the math for you:
All time high: 48.99
48.99 / 12.36 = 3.963
Current low: 3.97
In addition to this the price has just touched a bottom of Gann fan .
I believe that short sellers will be fearful to sell at this price and we'll see a pull back. I don't know the exact PT, since the stonk is shitty, but I feel that it would be at least 50% up.