Maybe into the 9's but that's a big maybe. The chart can't tell you everything - if it could the chart would say its going to zero. Respectfully, This stock has a margin of safety in regards to book value and extremely cheap p/e ratio. If you a trader looking to make a quick buck the chart is what you go by. Warren Buffet for example does not look at price action and is one of the most successful investors of all time. He made his money precisely by buying stocks like PBR with extremely high margin of safety and very low p/e. In the financial crisis he bought in the height of the crisis (Oct 2008) before the market could bottom out in March 2009. Was he wrong? No he buys in when it makes sense, since no one can time the market perfectly. In this way he was able to take a large position into companies when at some point in the future Mr. Market will change his mind more positive and as the company becomes less of deal he sells off. Sorry the chart will not tell you if a stock is a good deal or not and fundamentals are what count long term.
PBR is making over $2. I rather own this one than CMG, AMZN, or Nflx. What is wrong is WS. Looks like GS shorting this stock to the bottom. I can wait until it reverse the course. I made good money in other stocks and I will add more if price go down more