1st buy of a sub $10 stock

I recently bought some CRUS(Cirus Logic Inc) stocks at $5.85. Just two weeks ago(may 2) there was this big news that CRUS didn't meet Q4 goal and this caused a huge drop in its price from $7.64 to 5.49. I find this an opportunity to get into the boat and rock on steady until it reaches back to the ~$7 figures. That would really make my pocket happy :D

My reason for trading this issue are

1. It had hit 62% retracement
2. It just bounced back from 100MA
3. Its bounced from its lower bollinger band

Things that bothers me though I am already bullish on this issue are

1. MA are still not alligned to show a bullish trend. I saw this issue since it seems that it might be on its way to bullishness.
2. It has broken down from its previous support. Since march, it has broke up its bearish channel and its target(new resistance channel) was met on the next month. It moved further up to $7.64 before its dive to $5.46 which also broken down the new support.
3. MACD is currently below 0 with MACD line still below its signal. So basically, I am waiting for MACD line to cross its signal and eventually move above 0. Hopefully, within the next few days it might happen if prices continues to move up.
4. RSI signal went down near the 35 figure. However, its MFI did for a day or two and went back between 30 and 70.

Right now, my fingers are crossed. I had my stop limit set at 2% loss on the first 2 days, and now had its at $5.9. Once it goes beyond $6.15, I'll have my trailing stop loss at $0.25 and my target price at $7.5. If you look into its chart, it seems that the $7.5 is also major resistance. :D

Addendum: 5/16/08 trailing stop loss met at $6.09. It dipped down to $6.06 but eventually went back to the $6.18.