There are times where a stock is simply under selling pressure. Every trader can see it, no way to read it incorrectly. However, at some point, the stock action will get to a point where Dip Buyers, Knife Catchers, etc. get interested. I bring you the 5 minute chart of TIBX (Tibco Software):
This is what I have been watching today, for a new Swing position. The $31 price level looked like it would hold this morning but has since given way to more selling pressure.
In looking at the chart above, some clues emerge as to why that may be. The Accumulation/Distribution indicator is near the 0.3 line (starting point today) so Bears likely want to push this down a little more into the Red box area. Also, price is testing the low of day from yesterday, March 29.
No rush here, just waiting for the stars to align for the best entry.