Take a look at the 1-year chart of Infoblox (NYSE: BLOX) with the added notations:
BLOX peaked back in January at $39 and lost over 70 percent of its value from there. The stock seems to have bottomed out over the last 5 months, and over the last two the stock has commonly hit a very important level of resistance at $15 (red). If the stock can break above $15 higher prices should follow, most likely a run back to the $17.50 level (blue).
The Tale of the Tape: BLOX has a key level of resistance at $15. A long trade could be entered on a break through that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $15.
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