Hi Tony. If you jump onto the MNS daily chart you can see hundreds of gaps which are eventually back tested and filled (the way I describe it, not the way my detractors do). In stocks, gaps are filled MOST of the time, but not all of the time. The exceptions relate to what you're talking about - major company making news. Sometimes the move is so powerful that the previous closing price is never visited again.
Yes, I've called for a test of strong support down at 28 cents. I've been making this call since 70 or 80 cents. You can tell me I'm wrong about my call, and I will accept your judgement, however I question the relevance. To me, if you sold the stock at 80 and it is now 44.5 with a 28 price target, you might be 'wrong' but you still made a boatload of money on the way down. I've been that type of wrong hundreds of times in my long tenure in the markets, and I'm happy to be.
If you look at my chart post from last week after the news, I was ready to concede a change in trend and a breakout/higher high. I noted very clearly that MNS broke the trend line I had been working off for a year, and it was sitting at the last important resistance level. This level held, and it is on its way to dipping back below my original trend line which is really quite bearish.
I will happily concede once the downtrend is broken. Break above the 55ish area and the bulls will probably win this fight. The news would have to be related to finance or something actually tangible before you get that kind of strength though.
EDIT - Mod, I posted this before getting the notification with your message. Hope it's OK.
(20min delay)