After that big run, big players cashed in at the top and will want to buy at low prices. I know that there will be resting orders down at 160 level because that was the start of the up move where a fundamental driver was announced. Markets have memories. A double bottom
will likely be formed where all the retail traders will buy, maybe off the 200ema, then their stops will be hit, triggering massive sell orders all the way down to 160 where i will be waiting. The way to make money is simply to buy low and sell high! The move down may be in a stair case fashion into the buy level because there will be a lot of interest in this stock. The breakout of the daily trendline
provided enough liquidity for the professionals to sell into this weak up move.