i would look for long entrence only if breaks 55, then pyramiding way up, other than that, has it found support, or am i missing something ? What makes you to think that, it's the bottom ? Thanks.
When RSI gets close to 20, I start looking to enter a trade. Especially with a stock where the drop is based 90% on fear and 10% of fundamentals. Not unlike what happened with MO. I was happy to pick up shares at $44 on that one. Got in ALMOST at the very bottom. I was a day late on that one.
I agree with Traveler. The low RSI and trading well out of the trend channel, seems like a good trading opportunity. I would look for a retracement to about $58.5, sell half and see if the other half can make it to $61 and exit the position. Not interested in the long term because I don't like the balance sheet, and way to many stores that just seem to do marginal business.