$OPEN has dropped 15 of the last 17 weeks. Daily RSI just hit the lowest level in its entire history.
Down 83% from the $10.80 peak last September. Absolutely brutal.
At this point, just looking for one quick bounce to reset the chart and maybe catch a trade. This thing is oversold beyond belief, but oversold can stay oversold. Need to see some actual buying pressure before getting aggressive.
If you're watching this, wait for a momentum shift. Don't try to catch a falling knife just because RSI is screaming oversold. Let it prove itself first.
Down 83% from the $10.80 peak last September. Absolutely brutal.
At this point, just looking for one quick bounce to reset the chart and maybe catch a trade. This thing is oversold beyond belief, but oversold can stay oversold. Need to see some actual buying pressure before getting aggressive.
If you're watching this, wait for a momentum shift. Don't try to catch a falling knife just because RSI is screaming oversold. Let it prove itself first.