Is Sphere 3D Corp Stock About To Reverse?

Shares of Sphere 3D Corp. ANY have been on fire, but they're now extremely overbought. That means there's a good chance they reverse and head lower.

Computerized algorithms account for most of the trading on Wall Street. They're usually based on probability theory and it states that 95% of all trading should be within two standard deviations of the average.

If a stock exceeds this threshold, these algos will be anticipating a reversion to the mean or average. This is why they could target ANY.

After the recent rally, it's more than two standard deviations above its 20-day moving average. It's also more than two standard deviations above its 20-week moving average.

This will attract attention. There’s a good chance these algos will drive the price of ANY lower.