The support is at the 261.8 percent Fibonacci projection level of a downward wave C. It is not clear if this support would trigger a rebound, as rebounds have occurred at the 138.2 percent level of $16.34-3/4, the 176.4 percent level of $15.98-1/2 and the 223.6 percent level of $15.54.

It seems there is higher chance of a rebound than that of a further drop, as the support is enhanced by another one provided by the lower channel line of a falling channel.

A further drop to $15.10 will confirm a valid break below the support, and a bearish target at $14.59, the 323.3 percent projection level, will be established.

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