A look at $WOLF after that gap down

Saw that nasty gap down in $WOLF today, trading around 46.56 at the moment, with the day's range already stretched from 44.92 to 48.05. Not exactly a confidence booster for anyone holding the bag.

From a technical perspective, what's interesting is where it's sitting relative to its prior significant swing low. If you squint hard enough, you might see a potential for a short-term bounce off the lower end of today's range, especially if it can hold above that 44.92 low. But frankly, the daily chart looks pretty grim. Any meaningful rally, for me, would need to clear that 48.05 high first, and even then, I'd be looking for confirmation above, say, the 50-level to suggest any real bottoming. The risk here is obviously that this is just the start of a further descent. If we close below 44.92, then the bears are definitely in control and I'd be scouting for the next support level much lower.