It was trading close to its 200 sma back then. Now it's a different story. As it was flying high.
As I said the only hope for a quick reversal is if a major investment back will come and say that they believe that the company is trustworthy and is doing legit business. Obviously a reputable investment bank has more credibility than some MW research.
Many folks got spooked by this disaster today. Many will probably stay away from Chinese stocks forever (this is how I am going to do personally as I lost a lot).
But an advice for everyone who got butchered here today: always have a stop loss order for every stock you own just for such occasions.
I feel your pain but I don't think any major investment firms will come forth on this one. I just don't think this company is reputable enough for a major investment firm to risk their reputation on. As it is, it has essentially 0 coverage by any reputable analyst which made it an easy target. It probably won't go to 0 any time soon but I don't see this getting back to 20s ever again.