After 3hrs and 30 mins, it tested and held the 8.50 level. On a half hour basis, the volume was 58k vs 61k, not quite enuf to break it; needs to build a little more cause. Sounds counter intuitive but breaking 8.50 is bullish imo. It can then print a lower low, trough "F"; a high probability terminal low.
8.43 is the monthly pivot support-3 level.
8.33 is the 1.272 ABCD extension off the 16.75 high.
8.31 is the daily pivot support-2 level.
8.18 is the weekly pivot support-1 level
8.18 is the support line of the long-term downtrend channel
The daily volume is light so far....so today is the day to print a lower low.
or if 8.50 holds then I would consider it as a retest of the last week's lows and failed to break down. The broader market turned green and it might help relieve further downward pressure on SKUL. It is still too early to say, SKUL has been know to close poorly.
Keep an eye on the 3Q Institutional filings. It is a little behind, but at least we will kno who sold in to the fall from 15-12 on in Sep.