5.50 bounce for great risk / reward setup

As you can tell I don't have many indicators or trend lines as none of them really matter besides these 2 strong trend lines. We are coming down slower than CRON came down in the past and bounced at 5.50 which means we shouldn't break 5.50 as it won't be a strong punch (hopefully). Either way if you set a stop loss at 5.40 or even 5.35 in case a lot of stop losses are sitting right at 5.49 there is a great setup here. In the past this has gone from 5.50 to 7+ dollars every time its been tested. I will be loading up around 5.50 and giving it a shot. If this comes down slow and hits 5.50 support we should break that downtrend and have a nice rally as it will be around earnings which could really make or break that 5.50

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News as completely changed the stock trend. now above that nasty downtrend and should see a nice little run before ER. I don't see this getting back below 6.00 for now