Ceradyne Stock Has Little Downside (CRDN)

Ceradyne Inc. (CRDN) has been seeing a sharp sell off, and rightly so. The stock touched its upper end of the bollinger band and saw a negative divergence on its MACD. Since then, it has been seeing a free fall. But at current levels, I believe this stock has very little downside.

The W%R of the stock shows the stock is oversold (W%R of 80 & above = overselling); CRDN is touching its lower bollinger band. With its earnings release due on April 24th and last quarter surprise of 22% to the upside, I believe the stock will soon rise back into its high 50s.