As you can see below, it is playing out as expected from the bearish rising wedge pattern as it has fallen by more than 20%. For those that shorted the stock on the break below the wedge, congratulations. Don’t become complacent though, because the next few weeks/months may challenge your resolve. With price sitting below support level S2 and being very oversold (see RSI momentum in the upper pane), it would not surprise me to see a rally back up to the underside of S2 while the bears take a rest and the bulls try to take control driving prices higher. Any retest and failure to break higher is in line with the thesis of a much bigger decline ahead with S3 as a likely target, some 30% lower. A retest and hold above S2 is a signal that short-sellers should consider exiting the position and booking their profits.