Mar. 13 at 7:09 AM
$OWLT Weekly chart really needs to get down to the green risk zone before I start to jump back in. I don't want to break my own rules but this is moving so fast I might have to. As far as charts go, this is about as ugly as it gets. That monthly wave data is just gross, and the weekly wave still has a lot of movement to go to the downside.
Those volume candles on the weekly are the highest weekly volume candles the stock has ever seen, huge players exited and exited fast. And it happened two weeks in a row. I hate to say it, but I see this triple bottoming in the
$2 range, which is going to sting because I'm likely to open a large(50%) position somewhere around
$4.
The private credit crisis doesn't affect OWLT, so it's likely not organic. This seems like options manipulation. Push it down and run it back up to
$20. First I see a bounce to
$12 soon b/c RSI, fill gap, then a slow bleed to
$2, risk of losing options again, and then they run it one more time before the company gets sold.
