For the first time since the parabolic began, the uptrend line was pierced today and actually closed below the trendline indicating that the move which commenced with the breakout on May 10 and has continued pretty much straight up has probably come to an end for now. Some of the primary technical indicators are also showing a loss of momentum which also indicates a pause in the move. Whether this results in a horizontal consolidation or a more significant downword move, we'll know soon. It seems that the huge short position acts as a floor preventing significant lower prices so my expection is that the consolidation will be a horizontal price to slightly down move.

On the downside there is a lot of support in the $6.85-$7.00 level and below that at the $6.20 level where coincidentally the 20dma currently is today. Except for the last few weeks, over the last year the share price has pretty much tracked the 20dma and has always come back to 20dma average when extended to far below or above the average.