$IQ Watching for Short Entry

IQ has been on quite the downfall. I think there is a little more to come. If $25 cracks this will likely fall back to $22.50 before consolidating there. I'm looking for a short entry around $27.00-$28.00 then a run back to $25. If $25 cracks I will look for this to keep falling until $23. If strong volume and bullish indicators develop when around $28.00 then I will watch for bullish reversal. Scalps could be made from $28 break to $30, but wouldn't play the real reversal until $30 break out.