The stock goes up with small volume and then Boom, the seller coming in to bring the price down. I feel they are manipulation this stock. I really don’t believe there are many sellers around this price with this PE and the report.
Look at CTL. It came down badly yesterday because they reduced the dividend. I read on business journal that the company could go for strike. The CEO announced will buy back 2B of their stocks. I am looking to buy it. It will go up if the strike does't occur.
A 23.6% retracement, typical for a dead-cat bounce, between 42.01 and 32.05, is $34.40. The top of Thursday's selling bar is 34.15. I'd expect that is where sellers will come in.
A good trade may be to to buy the daily pivot on Tuesday, $32.75 and daytrade bounces off the R's or just ride it up to the $34 area. Just the one trade would yield 3.8%. Then short it for the ride down to retest $32.05.