This technical analysis by no means, is a financial advice and this only works for me and I personally think post the best analysis I can, Please do you own research.
There is a possibility of Harmonic Chart pattern which it can happen at the price range 1. If you sign of reversal you can open a long position till $10.50. Still use your money management skills to dollar cost average in the designed priced area ( number 1,2 and 3). There is a strong down trend so try to manage your risk.