According to the RSI 14 chart, we did not reach oversold, but I do understand what you are saying. We were at 35.77, 30 is oversold. Also, looks like there is a bit of support at the 1.45(ish) area. I'm thinking we haven't seen the bottom yet. Good earnings could change my opinion on that though.
It is hard to read what investors are thinking about the Rights Issuance. Was yesterday just a knee-jerk reaction before thinking it through or is today just setting up for another leg down?