Reasons for BEARISH:
Big red indecision candle at an uptrend
High RSI and indication of downtrend
Running off of no news
CITRON initiated Short position
Reasons for bullish:
Has entered MEME stock territory
Pop after hours
Neutral right now, but CITRON targets their short covering around $21-$20, which is conveniently placed around a popular Fibonacci retracement level 38.2%. Watch for support there, if it breaks then 50%, then 60%. IF it goes that low to 60%, I would go balls deep in. Even hitting the 38.2% levels, would bring it to correction. Monday will tell how the story unfolds.
Big red indecision candle at an uptrend
High RSI and indication of downtrend
Running off of no news
CITRON initiated Short position
Reasons for bullish:
Has entered MEME stock territory
Pop after hours
Neutral right now, but CITRON targets their short covering around $21-$20, which is conveniently placed around a popular Fibonacci retracement level 38.2%. Watch for support there, if it breaks then 50%, then 60%. IF it goes that low to 60%, I would go balls deep in. Even hitting the 38.2% levels, would bring it to correction. Monday will tell how the story unfolds.