I'd have to disagree with your "not much support" characterization. There is strong support in the low 4's area. The only way we breach that is with disappointing earnings(sometime in May?)
A normal stock would correct hard to the low 4's from its current spike, however 2 things influence FONR's abnormality:
1. The low institutional ownership indicates there may be strong institutional representation in the most recent volume spikes (read a longer term holder) 2. The massive increase in short positions I believe are mostly retail types, that know not what they short or short on pure technicals without appreciation for the fundamentals. These types are "fueling the advance".
Bottom line is FONR may base more "horizontally" than "drop", allowing Bollinger to eventually catch-up to the recent move.
It would be different if this comes under attack by hedge funds or sell side analysts exploiting the media; or quite frankly if we get coverage initiated at a level reflecting "excess".
This is why you book some and hold cash for the unforeseen artificial depression in price.