For starters I think the selling over the past 3 months has left this oversold and due for a correction to the upside, and with all of the dip buyers getting shaken out in recent weeks and the sentiment being back to neutral if not negative, I think the market sentiment/psychology is ripe for a bounce as the long side isn't crowded with retail flippers anymore. I also see certain elements to to the chart which I'm liking, such as the tightening of the trading range and the bullish divergence between the price (down) and the MACD (up). The stock attempted to bounce there at .08 and looked like it may for a while there, but that move fizzled out and support was broken and that should have lead to more convincing selling and follow through by the bears, but so far the breakdown has been weak and the highest volume day since it broke below .08 was a bullish accumulation day. Now a move back above .08 would signal a failed move/ failed breakdown, and we're only a blip away from cracking that resistance and triggering some bullish momentum and a possible short squeeze.
I could go on some more but the point is I think the selling is overdone now, the sentiment is nicely set up for a reversal, and there's a better chance of a break up rather than break down, and more potential upside on a breakout/bounce than there is downside risk on a breakdown/ crash of current support. Certainly not saying anything definitively, other than I like the odds here and the R2R also looks favorable.
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