Borqs Technologies Inc (NASDAQ:BRQS) dipped by 5.31% on Friday as the stock pulled back after Wednesday's spike. The stock closed at $1.07 a share and looks poised to rebound. Looking at this technical hourly chart above, what makes me think we are very close to a bottom is the last five candles have seen lower volume and a price stabilization exactly abv support. Additionally, it has back tested successfully the broken yellow horizontal trend line resistance. I think this bodes well for a bounce from current levels. Long setup on watch.