A few bigwigs resigned yesterday. Why exactly is not completely clear but, as is usual, the stock took a bit of a hit touching $11. This might just be an intermediate low of wave 2.

The stock topped in 2006 at almost $50, after a clean 5 wave move in which the 5th is extended. Typically the extension is completely retraced as the stock falls back to the lower level of a triangle wave 4. It does so in a pretty symmetric A-B-C. This may have been all of the correction, after all the stock loses about 80% of its value.

From there a 5-wave wave 1 starts a new bull market, followed by a wave 2 correction which retraces all but a dollar of that move. This is all textbook EW. The RSI is already oversold. Buy at these levels but use a stop loss at just under $10.