I can't believe some of you don't use stops. It was in a trading range (TR) and then it fell out of bed in the right-hand side of the TR with a sign of weakness, wide price range with accelerating volume. Get a clue; that was a distribution range; you should sell right away; you don't buy more.
William said he can't understand why it keeps dropping. I see it's dropping even more today. Down nearly 30% now after falling out of the TR.
I can tell you why it keeps dropping.....FEAR. Throw all your books on fundamentals in the trash and learn how to read the tape. The sooner the better because it takes experience to recognize the clues. The tape is telling you there is something wrong with MITK. It doesn't matter what is wrong.
It goes without saying that all markets are manipulated; so why bog yourself down with detailed fundamental analysis that doesn't mean squat to the price movement? They all lie because they're all trying to get an advantage. The tape doesn't lie.
MITK will bounce, but don't buy it, as it needs to build cause. The first bounce will probably be preliminary demand, then it could put in an even lower low and then bounce again, but don't buy that either. Wait for a low volume test into the lowest bar. Even that would be aggressively bullish. The safest is to wait for a sign of strength in the right hand side of the TR that will eventually develop.