The 2.50 - 3.50 area is a huge wall. The PPS was trapped there for a year from 3/15 to 3/16 and there will be a lot of sellers who are glad to get even if we get into that area. It will probably take a positive PR to break thru it.
If you check the 5 minute chart, you will see that a big buyer came in just after 12 PM EST. PPS had settled in at 1.24 and then gapped up to 1.32 with fairly big volume. Let's see if today's move holds. Hopefully somebody knows something and wanted in today.
I am wondering who would be thinking this stock has a future. We know for sure earnings are going to be very ugly. The only hope I can see is if they announce a contract with a government or large private agency. Otherwise, well - one can only speculate the bottom.
There is definitely an accumulation of stock. Something has probably been leaked and somebody wants to cash in on the next move. At this price, I'm holding my position. Downside is very small compared to upside.