Update to this morning's "thinking out loud":
I stand by most of my analysis, but I apparently missed that there is tremendous support at $4.11 to $4.15. When I posted this morning, the price was rapidly falling on low volume, and was at $4.14. Well, that price pretty much held for most of the day. Despite the drop in price, most of the activity appeared to be at the Ask (buying). I can't explain this, but that's what I observed. Chock it up to MM activities. Basically, there was tremendous distribution of shares in a very narrow trade range today ($4.14 to $4.15). There was a little slippage in price at the very end of day.
Volume of 129,517 was O.K.
The price will probably move in small spurts until bottoming out. I think the range I outlined this morning is still in play; but, with the support in price at current levels; there is a reasonable chance, the price is already bottoming. If so, this would be tremendous confirmation for the LONG case. A very shallow pull back; then, probably back to test recent highs.
I am keeping my powder dry; but, prepared to jump back in very quickly.