Looks like using Fib, we can see it hit those fib levels on the way down at 38.22, 30.51, 27.33 and 23.4 level. Usually with these many drops, there will be a high probability of reversal back up to the upside Now, looking back at what happened in November 2017, it looks like we had a similar drop. History may repeat itself so we will see what happens. When you look back, we had a similar fib but this current fib has a way bigger massive downside than the on in November 2017. There is a chance it could go down to 17 dollars too but the chances of that is not as high as it would do a bounce upwards. There is no new news in the industry, so basically people are going to trade by technicals and their perception of future earnings in the industry at this point forward until some big company deal, earnings report and/or government headlines pushing it in some other long term fundamental position. Disclosure: I don't own the stock but have a put left which I may sell soon for a profit.
