Thoughts on WOLF's near-term range post-dip
The recent dip in $WOLF to the low 40s has certainly caught some eyes. We saw a low of 43.9 today, recovering slightly to 45.68. The stock has been trading with significant volatility, bouncing between 40 and 50 quite a bit over the last few weeks, but today's downward pressure feels more pronounced than just typical intraday noise.
My take is that there's a roughly 60% chance we retest the 43 handle again within the next 3 trading sessions, possibly even dipping into the high 30s. The upward momentum that saw it push towards 48-49 seems to have evaporated for now, and the broader market sentiment around some of these mid-cap tech plays is still a bit shaky. There isn't a clear catalyst on the immediate horizon to push it decisively higher from here, so without that, I lean towards further consolidation or a slight pullback before any sustained recovery. Not seeing a strong conviction to break 48 again unless some significant news drops.
That dip was pretty sharp. Do you think there's a specific catalyst causing this recent downward pressure, or is it more of a broader market correction for the sector?