Capitulation for 3-4 days will help find bottom Market action like today was of total surrender. Entire health sector is down. If you compare NHC with say, peer stocks you can easily see all established peer stocks are 60 to 70% down from their highs. Even a composite Biotech ETF like IBB is down - trading at 273 v/s high of 400.
NHC may be somewhat extra down due to audit issues which I believe are no longer a factor in stock price. This down turn has created many opportunities other than NHC and some of the better names pay dividend besides are established, lower debt and positive in cash flow.
NHC will rebound on positive news and those rallyies will be rare until a true bottom is set through 3-4 days of total capitulation