If you look at the chart, you can see the stock dropped from $5.5 down to $3.5 in a only a few days. If you flip that around, it is completely possible for the stock price to move right back over the $5.5 level from here. With much of the bad news out and a tangible book value of $6.5, a move back to the $6 range seems very doable.
On the daily chart price is pressuring the upper BB now as the 10ema is crossing above the 50ema. MACDH 5,20,9 and 12,26,9 are both moving up. Stoch 14,5,1 is moving up. DMI+ is above ADX and moving up. Vol still not remarkable.
Assuming price stays above 4.48 today (Aug 11) I see next resistance at 5.13 which was confirmed by the lows of 5.13 on May 29, Jun 4, and the high of Jun 5.
Sure but you forgot to mention the reason for that drop was the cut of the dividend... so yeah if they declare a dividend it can go back up like it went down, otherwise there is no reason for it. If I were you I would read the chart as stable meaning the market agrees with this price and has for two weeks. It will stay in this range until news comes good or bad. hope for the prior.