It's the end of the quarter, the stock is no longer as oversold, it's retesting the sma50 again(high 17s), and it's still in a downtrend,
therefore, traders are playing the ($16 to $18)range,
and some institutions are still selling short-term(and at a slightly better price) to avoid the negative association of a losing stock at the end of the quarter.
Until one understands these dynamics, people are inclined to postulate all kinds of hobgoblins to explain what is merely the effect of normal technical factors on the stock price.
And, until we break out of this downtrend decisively, such factors will continue to rule...
