RUN: Rebound on a weak stock
Updated
I've entered a short at 30.08 because i believe this rebound (on positive news) is driven more by shorts covering and taking profits rather than a genuine inflow of money and buyers. And even if the west is trying to cut off their reliance on Russian natgas and oil, time has shown again and again on more occasions we cannot substitute our hunger for energy with Solar. It's more likely that Europe will be starting to import and burn more coal.
From a technical perspective the stock is trading in a downtrend and has just seen a 50%+ rebound, reaching the 50 SMA. It could go higher for a while but i ultimately believe it won't get past the current 200 SMA. I'm targeting a 24.08
From a technical perspective the stock is trading in a downtrend and has just seen a 50%+ rebound, reaching the 50 SMA. It could go higher for a while but i ultimately believe it won't get past the current 200 SMA. I'm targeting a 24.08
Note
Forgot to mention that this stock is highly shorted, as most of my short plays
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