It may well be oversold, however, the stock is, in my view, in a...

It may well be oversold, however, the stock is, in my view, in a downtrend. Until that changes it is sitting on close to support. If it falls through support then I see further downside, if it respects support then maybe it can find legs. I just urge caution when saying the indicators say oversold, oversold does not necessarily
mean it is a buying opportunity or time to average down.
I think most traders/investors would agree that determining a stocks direction is very important.
I believe the trend is down, the volume is low so we are not seeing a large sell off, but a continual slippage
to date.
Whilst no one likes negative commentary, I feel it is important to look at what is and not what might be.
Best wishes