yes SPPI bounced off support that's been drawn in for weeks, there was some positive divergence on the 60 min MACD and up volume today is larger than some of the recent down bars.  It's tough to say here, I could also see it bouncing high enough to form a RS to a H&S pattern which could take it above the MA's.  For short term down momentum I don't want to see it go up too much more, otherwise the H&S pattern could play out.

it also depends where you entered the stock, it's been a short idea for a couple weeks now, if you took a short up near the 50 day MA then you have some room to give it, but if you shorted yesterday then the risk/reward wasn't as good, but you can decide if you wish to give it some room above the downtrend line or MA's, or you can also cover it and short at higher prices.  For shorts I generally sell into resistance vs shorting break downs, where as for longs I will often buy breakouts, but of course I buy support when I can.