This stock seems to bounce back up once it hits the .22-.23 range, which is why I've bought at like .26; it never stays at .22-.23 long enough for me to buy much. It apparently has strong, strong support at that range.
This stock is so ridiculously oversold (taking into account the reverse merger, that is lacks selling pressure. But, it also lacks buying pressure, so it just hangs out in limbo between .22-.38. Not the most technical analysis, but the general gist of what's going on.