Price Forecast:

Bullish Case: If institutional investment continues and market uncertainties decline, RSI could see growth, potentially reaching $12.50 to $15.00 in the coming months.

Bearish Case: Increased market uncertainty and high implied volatility suggest potential for a pullback under $10.00, particularly if macroeconomic conditions worsen or competitive threats arise.

Potential Outcomes:

1. 60% chance of a short-term pullback towards $10.00 following recent highs.

2. 20% chance of rising to $12.50 driven by positive earnings.

3. 15% interest from institutional investors boosting sentiment.

4. 5% potential rapid decline toward $8.00 due to adverse competitive pressures.

Trading Oracle: Consider a bullish debit spread by buying $10.00 calls while selling $12.50 calls, capitalizing on potential price recoil against high implied volatility. Expect a 30-day horizon for profits as market sentiment stabilizes. Maintaining a neutral strategy protects from sharp downturns while positioning for upwards movement.

November 01, 2024