The new shelf registration (basically 10% dilution) could potentially create more weak hand selling/stop-loss raids, leading to a PPS possibly as low as that 4.50 area.
That said, the RSI is showing solid support on the 1 hour chart and the bullish channel support line is still intact. I would love to see the new 50% swing (17.24-7.31) retrace of 12.28 get tested this week.
Our new potential trading range could be between $7-$17 until official revenue guidance is provided. Given what we know here, a market cap of 1B-2B feels about right IMO.
The 3.15-17.24-7.31 fib extension is pointing us to a target zone of $21-$30.