GTAT - Starting a new downtrend

You can see how the price of GTAT has a floor and a ceiling, at 2.50$ and 17$, give or take. This time the stock broke over the resistance at 17$, and everybody was bullish. Well, it was a false breakout, yesterday's close confirmed it. I have been watching this stock for shorting for about 4 months, and surprise, yesterday when I looked at it it was down 15%. That rules shorting out of the question because the risk reward ratio is very unfavourable. I expect the stock to go down strongly in the coming weeks. I have no position and considering how the stock moved yesterday, I'll probably stay on the sidelines. There goes 4 months of waiting