Macy's Falling Back to Support?

With Macy's expecting to report massive loss, we see the price of the stock falling back towards its support of $4.80. $5 might look like a support too but seeing how often it dipped to $4.80 in the past 1 month, I think it is too risky to buy in at $5. If Macy's continues to fall I would wait to see if $4.80 is being supported.