The stock seems to be bottomed and may test the $2 level again and the dividend reduction has already been built in. Any turn around could see $12 before hitting any resistance. The MACD has already given a buy signal. The 8 EMA is Steve Bigalow's trading buy/sell trading indicator which works on any time frame...minutes, hourly, daily. Watch his free webinar on Thursday nights at 8 PM ET where he teaches you his trading patterns to look for and the different candlestick patterns.
See EVENTS on his website for Thursday night presentation.