Watching the $VNM Bounce

Been keeping an eye on $VNM these past few sessions, and it's certainly had a decent bounce from the low 17.08 area today. It's currently hovering around 17.15, which is interesting.

My concern for any sustained upward momentum would be a failure to hold above the 17.17 level, especially if we see increasing volume on any push lower. If it drops back below 17.08 and closes there, that invalidates the short-term bullish thesis I'm looking at, suggesting it might retest the lower range it was in earlier this week.