Will it bounce or break through? If it breaks, it could turn lower than during the U.S. 1991-92 recession, certainly a BFD. Maybe somebody else could chime in on the fundamentals?
It's a "support" level, not resistance. It can go lower but should be met with decent buying at each downtick from bottom-feeders and funds who may attempt to force a takeover or restructuring. We'll see.
Price support and resistance on your time frame are set in relation to the company's fundamentals, not in relation to itself as is the case on shorter time frames.
If it's based on fundamentals, then why is the resistance line at $10/share, which is a psychological level.