I believe there will be strong resistance @ 16 ... and expect a trading range of 16 to 18 over the next several weeks, unless a "black swan" event happens in the interim. Today's weak handed day traders will sell in the first two hours of trading.
Today's day traders will be tomorrow's early losers ... first hour of trading PAY will go below $17 as today's day traders get nervous and head for the exits. Tomorrow's high may get to 17.98, then retreat to low 17s.
In my estimation, capitulation will come at either $17.01 to 17.05 ... or, 17.51 to 17.55, then a bounce to 17.98 to end the day. Tomorrow, a dead cat bounce to 18.10 going back down to the low 17s.
The 52 week low of $4 would be a good entry point. However, if we see another crash like Oct 2007 to Mar 2009, then this energy sector stock (along with many others) will be a steal !!
I can tell there are a lot of retail buyers who have been averaging down for quite some time ... is Fri May 3 a day of capitulation & a good entry? I'm a first time potential buyer of TDC.
Internet retail is here to stay ... deep discounts, no bricks & mortar expense, no sales tax. Traditional retailers will implode one by one ... survival of the fittest !!