RSI getting close to 20 BBD.B is very oversold. In principle you should get a oversold bounce soon. Today the stock is under pressure again. It is bit different today because the volume is high. The main pressure is coming from Cormark who has already dumped over million shares & continues to sell. There are a few other sellers but they are not selling large number of shares like Cormark. Today all depends on Comark, how much he has to sell & what type of damage he will do to the stock.
The best case scenario would be that Cormark becomes very aggressive & pushes the stock close to around $3.30 today & finishes selling a few hours before close. This would create a double bottom & if the pressure is removed before the close & if there is some buying at the end of the day we may have a hammer & a reversal
Looking at the selling of Cormak for a oversold trade. Hoping for a hammer today.