My friend i don't know if i should laugh at you and call you a fool or should i help you correct you wrong. First of all, why are you happy this stock is falling apart? I assume you are short. My friend you can only pull back an elastic so far before it snaps back! Stocks are like elastic bands, expect they are a bit more complex. I will try to explain a theory in laymen's term because why get wordy? :P
so pay attention!
we all know stocks have supports and resistance, highs and lows; but what most people don't realize is that a stock is similar to an elastic band however!!!!!!!!!!!!!! it has lets call its "support stations" (support and resistance) now you can only pull an elastic so far before it snaps back (correct?) well same goes for stocks, support and resistance act like gates or "support stations" now you can only pull the stock in one or the other direction as far as the elasticity will allow it to. What happens when a stock reaches one of these "support stations" it bounces back!! NOW YOU GOT IT!!
Unless it has a reason to jump to another "support station" (reasons to move: company improves ---balance sheet improves----they make #$%$ load of money) all these reason will push the stock price on to the next platform.
Now what you don't realize is that this stock has no reason to move any lower, it would be wayyyyyy undervalved and you know what would happen to it than?? bounce right back!!