The stock since its recent high on 3/3/08 has been forming an Elliott wave A,B,C DOWN correction (e.g. 1,2,3,4,5 down, a,b,c up, resuming the coming 1,2,3,4,5 down in the coming weeks) and will break the low of 79 (and then some) before it will likely move up again.
Technically speaking, the stock has been a relatively weak stock (low RSI) since it decided to start gapping down on 4/7/08. A week later, it fell below both the 50-day moving average AND the 200-day average which is a negative for the stock. It tried a breakout on 6/1/08, but failed and broke below the moving averages again. This is another sign of weakness in the stock. Lastly, institutional investors haven't really budged since the beginning of June which means that they do not have a belief whether the stock will be going up or down and so they are in a holding pattern.
In short, the stock needs some major work before it should even be considered a buy.
