On the daily chart it has printed F at the low of Nov 13th at 8.27. It then printed two higher lows and is now printing lower lows 8.14, 8.11, 8.06. So far then, 8.06 is "G". If it prints a higher low tomorrow than 8.06 would definitely be the G point. It could certainly bounce off this level.
But if it puts in a higher low followed by a lower low then G would be renamed to C (a restart C) and the next lower low after higher low/s would be a D; which has a high probability of bouncing.
It's just sliding along the top of the support line of the long term downtrend channel and it feels like it's dying by a thousand cuts. But it's holding the top side of that channel-support line and it did hold the Weekly S1 level again today and the volume is light.
We have a long series of clustered closes now which should lead to an explosive move one way or the other. If the shorts were in control, or there is some short conspiracy as some theorize, they could have whacked it today on this light volume. BUT they didn't. So today was NOT bearish. Also, it closed above yesterday's higher volume low.....so I hope to see a retest of yesterday's high at $8.60 in the next day or so.
I believe in the fundamentals of the company but feel as if something is possibly going on that we all are not aware of that is making the big money exit. 40% loss in share value since Kyle westcoat came on board is crazy, he must have something big planned. It would be nice to hear from management about this huge drop in PPS and address the lack of investor confidence.