Yes, I see that. Momentum could carry the price through to perhaps the 84 candle MA on the hourly chart at around $10. The market is now Overbought and momentum has slowed and bearish tension can be seen in the MACD so, based on the hourly chart (below) whether or not the price goes higher or stops right here, there will most likely be a correction in the price. So, the key will be to watch where it corrects to and how firm the support is following the correction. If we get a normal Fibonacci correction, and firm support on good volume, then we could have a bull market for while as the current price may very well be considered undervalued in the eyes of investors. What we have probably seen so far, is a short covering rally and a few swing traders playing the bounce. The price correction will tell a story of the future of the stock. Options are: a normal price correction, a drop back to recent lows and a double bottom formation, spike below recent lows and an immediately rally back, a very quick correction and a continued rally and formation of a V-bottom on the daily chart.
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