When i first took a look at this chart, i saw a classic break of FTFF (First Test First Failure) level, and the obvious entry would be to buy the break, or wait for price to "retest" that level. Buy on the retest with a stop placed on just below that retest level (on a closing basis). See chart below.

After arriving at the above conclusion, i zoomed the chart out further and noticed the pennant formation. Price has fallen out below the pennant. So this bounce might only be a retest of the underside, and could well find resistance there and fall further (as illustrated by the black arrows).

However, should price break back above the pennant (as illustrated by the green arrow) then this stock should be headed for some nice gains over a medium to long term basis, unless of course something fundamentally devastating happens to the company which can never be predicted.

Disclaimer: The above mentioned information is my opinion only, and NOT to be taken as advice as i am NOT a licensed advisor. Caveat emptor.