The only thing I think it can be now is that there was a technical gap opened on May 8th on a high volume day from the 2.05 low on that day to the 1.91 close the previous day. It could just be the stock is being drawn to close that gap now that all the volume has left the stock. Certainly the persistent selling from 4+ has wrecked the nice chart this stock once had and left a trail of resistance behind. This company needs to remember it has a public stock and release positive news to support it.
The stock did not need any news to go to $4.22 in June and the job will be easier next time around as the volume then would have shaken out a lot of the historical resistance. Just need some positive upward momentum back in the stock again.