BBBY Short Squeeze unlikely happen
I used RSI a lot and in my opinion short squeeze unlikely happen because RSI fell below 70. If it held at 70, there is much more chance of a squeeze.
Now only hope is to hold above 50 so the uptrend may continue. And need RSI to try above 70 again. If not, at best I think we could see $8 max.
For a squeeze to happen we need these conditions:
1) Short squeeze usually happen at overbought condition. RSI needs to hold above 70.
2) Long squeeze usually happen at oversold condition. RSI needs to hold below 30. People often call this "catching a knife".
I could be wrong.
Now only hope is to hold above 50 so the uptrend may continue. And need RSI to try above 70 again. If not, at best I think we could see $8 max.
For a squeeze to happen we need these conditions:
1) Short squeeze usually happen at overbought condition. RSI needs to hold above 70.
2) Long squeeze usually happen at oversold condition. RSI needs to hold below 30. People often call this "catching a knife".
I could be wrong.
Aviso legal
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