Jul. 14 at 6:51 PM
$LENZ No Immediate Structure Below: Because the stock has never traded this low, there are no historical horizontal support lines to rely on. Psychologically,
$4.50 and
$4.00 are the next natural magnets if sellers remain in control.
Prior Support is Now Resistance: The previous floor of
$5.20 has now flipped into immediate overhead resistance. For any bounce to be considered a true reversal rather than a dead-cat bounce, the stock needs to reclaim and close above
$5.20 on strong volume.
Oversold Territory: The intraday drop has pushed the daily RSI down into the high 30s. While it is heavily oversold, "cheap can get cheaper" when a stock enters price discovery to the downside.
