Some positive signs for this stock appearing on the chart imo.
Clear capitulation from its high flying days at around $9.
But massive volume came in around $6.50 to provide some support before a clear selling climax to around $5.00 followed by the rally back to $6.40ish.
The volume bubble of the last few months is a very postive sign imo, while someone(weak hands?) is off loading, the stock has clearly stopped going down, even the last wave down didn't break $5.60 causing a very shallow ST (probably becoming more like a last point of support then a secondary test as it didn't really test the $5.00 area again).
This large amount of volume changing hands could cause quite an explosive move if it does move up, alot of the floating supply could be held by strong hands looking for higher prices and alot of the weaker hands will already be out of the stock.
This smacks of accumulation imo, but time will tell. The reaction to todays weakness will be telling, another test of $5.60 - $5.80? Or maybe support at $6.00
I don't hold - yet but will be watching closely.
For discussion only.