Neutral/Negative Catalysts
- Bearish momentum: MACD is below zero and deteriorating, increasing odds of a near-term drift lower.
- Demand softness: Reported comps down 2.0% (per analyst commentary) and continued softness in new patient acquisition.
- Options positioning: Extremely high put/call OI (12.55) suggests market participants are positioned defensively.
- No supportive news flow: No recent news catalysts in the past week to spark a breakout.
- Key downside risk: Failure to hold $9.49 (S1) opens room toward $9.27 (S2).