Pandora $P is in a bullish reversal mode after rounding out a bottom at the end of 2017 through April. Price action since May has opened up the bullish reversal scenario.P Daily Chart(click to enlarge)Textbook Correction?- As we can see on the daily chart, there is a bearish divergence between price and the RSI.- Because a bullish trend has not been established yet, we should rely on this overbought signal and thus anticipate a bearish correction attempt.- In a textbook correction, we would find support around $6 or even $5.50 a share. - The 200-day simple moving average (SMA) resides around the $6.00 mark.- This price range also represents the resistance of the price bottom, which could turn into support if the market is indeed bullish. - If the market is indeed bullish now, price should not push below $5.50, A break below $5.00 would reflect bearish continuation taking place. - Also anticipate support when the RSI approaches 40. A bullish trend that maintains a bullish momentum should keep the RSi above 40.