DexCom stock traded as low as $42.62 following the news, its lowest level since 2014.

DexCom delivered an incredible rally for long-term investors that kicked off at under $10 per share at the beginning of 2012 and ended at $103.29 in late 2015. Since that time, the stock has traded mostly sideways in a wide range between $60 and $100. DexCom only once dipped below $50 in the past two years, a brief, intraday drop to $47.92 back in February 2016. That dip was quickly followed by a bounce back up to $68 by month’s end.

This time around, it seems as though DexCom is happy to stay below $50 for the long-haul. The stock initially bounced as high as $50.31 but was hit with selling pressure than sent it back down below $48.

Without a major catalyst ahead, the stock may continue to drift sideways or down for a while. Until the stock can close back above $50, there is potential for further downside if the stock closes below $45 and/or dips below $42.62 on an intraday basis.

The stock was hit by a wave of downgrades following the news, but only Wedbush and Canaccord have stepped up to reiterate bullish ratings.

In terms of support, the $45–$50 level previously served as resistance throughout most of 2014 and could hold for now. Below $45, there doesn’t appear to be any major technical support until the $28.09 level that held in spring 2014.

Joel Elconin contributed to this story.

Related Link: Canaccord Sticks With Dexcom As Shares Tumble Amid Unexpected Label Addition