oversold point of an overbought stock? don't foget its gone from 400 to 700 in a short period. Don't forget when it hot 500 that it was a positive big news day, funny if it hots 500.00 that its negative. People judging the stock where its been and not where it came from
Technically, it is in the oversold territory and $505 is a major support. But this stock is in a dumping mode. Even it is oversold already can get even more oversold. If it breaks $505, the next major support is $422. I don't think it will get that low unless there is something structurally wrong with the company which I don't think is the case. So if you are looking for a four/five month trade, you can start buying here and you can buy in steps, perhaps in 20%, 30%, and 50% increment. Meaning if you want to own 1000 shares, you can buy 200 now, and 300 more if its RSI goes below 30, and the rest when it starts its bounce.