how do you know they are covering? serious question. How do you know they are not shorting more on the way up? that's what they've been doing thus far. You have some secret source for what short interest is every day? share with us pls.
What was the rsi on Amzn when it went from 10 to 300? Tsla "over bought" at 50, now 100. Ever hear of the stair step pattern? Up a day, stall, up, stall etc. People that trade solely on technicals usually lose. You act like Miss Cleo with a deck of Hindsight Trading cards.
Justwonder: I think elect said it best. Do you expect another 10% tomorrow? You can hope for a miracle, but they are rare. Check your own charts on RSI. No stock stays in overbought RSI forever and selldom more than a few days.
I try to go with the overwhelming odds if I can.