RSI is not an appropriate indication for a stock being oversold when it has run up this much recently. Crays foward P/E is 60. Unless the company can make another massive sale, this will remain the P/E for the forseeable future. You may see a small bounce up to 17 or so but theres no way this runs back up to the 20s.
Bets? I am not sure when it will get to 20's again, but given 10 months I believe it definitely will. 45% of revs come in Q4 as per guidance. I see a triple shorter term bottom today. Bottoms were roughly $16.32 twice & $16.24 today as the third bottom. Long term triple bottoms are 96% bullish, but this one was shoter term , so not certain of probability percentage albiet still bullish for a downtrend or pullback reversal. Compare activity to ARIA pop today that had no triple bottom & has huge debt & no eps. CRAY has close to $490 million in cash. That works out to $12.37 per share in CASH with ZERO debt and excellent P/E. How do you negate those credentials?