I've been stopped out of PCK since I have a standard 10% stop on...

I've been stopped out of PCK since I have a standard 10% stop on any entry trade I make to limit my losses/keep my capital available - keep in mind I trade technicals and price action rather than fundamentals or company profile. The director selling really did a number on this stock as it usually does, and they really did sell a.lot. of stock which accelerated the weakness that was already evident.

Current possible reversal setup that could work is something like this. The stock is currently in a downtrend channel with the supply and demand trends marked in black. It's hitting an oversold level on the RSI at 30 but keep in mind that an oversold RSI is a kind of iffy indicator to rely on to determine a bottom - it can easily go below 30 and stocks can drag along keep hitting oversold and make significantly lower legs for a long time. The set up would need some final climax selling into the demand trend line around the previous demand price (15-16c) and then buyers to step up and then start absorbing the selling. A set up like this could see the price make a marginal new low on a retest but it should show up as a bullish divergence in the RSI (ie slowing momentum of the downtrend).

At this point the volume suggests that the price is falling not so much because of active selling but rather that buyers have just pulled their bids at this price level and won't step in again until a lower price which is forcing sellers to chase them. Stock is going to be under pressure for a while and even if it finds demand around 15-16c it will probably struggle to hold a rally at least until it clears the supply trend line (around a late Feb/early March time frame). Will keep on watch list again to note if/when I start seeing bullish reversal signs.