I am at the sideline at the moment. Where is the best reentry point?
It has been in a linear downtrend since the short-covering pop Tuesday at 10AM. When it breaks the downtrend, that will be the time to buy again. That could happen today ... or not. A close above $46.25 today should do it.
41.48 for a 15% handle from the highest close. High volatility could justify a handle closer to 17-20. If it closes under 39, all bets are off as the pattern is broken.
43.75. Mark my word.