Here's my long breath reply.

I do not use indicators and I always try not to guess where the support for a particular stock is.
The next stock supoort levels are only known after it happens and before it happens, previous supports are just past records which showed where the stock was last supported and if one knows the market well enough, one should know that there is no guarantee that a stock next support level will be at where the stock was supported last.
Some are known to assume that a stock will be supported at SMA lines but less we forget that SMA lines are just lines wich indicates the past average prices over a certain period of time.
Key word? Assume. If assuming is a good form of accuracy then why do we hear constant technical phrases such as ABC crossing a certain SMA line?
Yeah, the theory is if it goes below sma200 it's like a death cross, which indicates extremely bearish and if we give this statement a second thought, we might be asking why wasn't the stock supported at the sma200 line?
Here is the chart again.



What is it saying?

1. The stock went on an extremely bullish run early this year. The gain was simply awesome. It went from 11x to 17x. In between it gave out a bonus too - ie the trader got a dividend too!

2. That amazing bullish run was made in roughly 4 months plus.

3. We saw only a minor correction in March.

4. Did the stock warranted such a run? (This you need to know some sort of fundamentals, like it there growth in earnings? Was the stock giving a big whopping dividend? Any major development that might have cause positive sentiment to this stock? etc etc etc)

5. Then came end May. Stock ended 31/5 with a very impressive gain of 1.12. After such a one day show, it was no surprise that some pullback happen. Stock started consolidating this big gain. Trading volume dried up on the 5/6 which could be a good indicator that the selling was done for. Stock was at 16.66. Next day, volume picked up and the stock started falling again. And the selling continued on higher volumes the next few days.  Not a good sign.

6. Then came the huge volume day on the 11/6. Huge volume days when the the stock is falling is another not good sign.

7. Stock made a small recovery the next few days but the rebound was weak with hardly any volume. No follow thru rebound. Another not good sign.

8. From a low of 15.10, the stock made a small mini recovery with no volume to 16.10.

9. When the stock fell again on th 24/6, volume increased again. Another not good sign.

10. Stock now fell pass that 15.10.

11. A lower low is NOW in the making..... yet another not good sign.

Would I trade it?

Would I guess where the stock will be supported next?

No I won't but I won't bring out that phrase of catching a falling knife because it's not yet a falling knife.
It's just rolling off a cliff slowly for the time being.

Yes, you can object to any of these points but do understand that these are just my observation and in the stock market, observations are just view points which could easily be wrong.