Hmmmm. Here's what I see. Tell me where I am wrong. The stock is clearly in a recent downtrend so some put action MIGHT be in order but it is at a level of support that has been tested a number of times over the last 6 months and has generally bounced back from it. In fact, as I type, it seems to be doing that again. Sure, it broke support a couple of times (on the 6 mo chart) too. Help a newb out, if you are so inclined. What do you see that I don't?
nobody knows the future. It's just a bet it will drop more. The chart is attractive to bet the price decline. 35 is chosen because it tested 37 area for 3 times. And it won't hold for 4th time, as a general rule.