These inverted cup and handle like formations can be positive and negative. If the price breaks the handle and closes below then the downward trend should continue. The price broke the handle yesterday and closed below and today it recovered a little bit and closed at par with the handle. If in the days to come the price closes above consistently then the pattern would have failed and thats a positive sign. Prices will go up.
If the prices close below consistently then investors in kitex need to be cautious ( read : prices will be under pressure )
The context is also important. The red line is the barrier that kitex will have to surmount if it wants to reach its heady heights of 1000+ ( its PE is still ~21 )
My take on the situation is - if you like the business ( the business is good but Mr Market has overvalued it and thats why prices are down) then there is no harm in waiting because its almost certain that you will get a better buying opportunity later ( according to me i cant see prices going up in the near term) OR
if you think that there is something wrong with the business then now would be a good time to introspect and decide if you want to move on.
However i am certain of one thing, if you have a sizable amount invested in kitex - it is decision time.