Just before closing, when I looked at the momentum, I found something fishy. Momentum is diverging. For a sudden drop like this that is unusual. Looking further, I think we are in the process of completing wave 2 retracement. Probably we may have already completed.
The Friday’s low of $8.21 is just 4 cents higher than the 50% at $8.17.
As indicated by my dark blue line, stock had previous support at $8.23.
Also it just touched the bottom (highlighted in orange).
If I am correct, Monday price should go up. If it can go above $9.56, we are in wave 3 uptrend.