RENN Descending Channel

RNN is very oversold on the monthly and daily charts. It is trading in a decending channel and if price respects the channel it should test $6. It has a large gap to fill from $3.20 to $6. RENN is trading at 1/10 it recent $10billion valuation per Softbank. finance.yahoo.com/m/6da60322-c6b3-3302-b9c6-7240df54fc65/softbank-finally-finds-a.html?.tsrc=rss