Is this a good time to buy? Nope! There's no reason to buy when a stock is still in a confirmed downtrend, that's how people get burned. What's helpful if trader's look at multiple time frames. For example, during the day I would have up 120 mins (1 min increments), 1 day (5 min inc.), and 3 day charts (10 min inc.). That way I get the entire picture.

In this case, I pulled up a 4-year chart and what I saw was a classic "bump-and-run" reversal. Take a look at the purple lines, notice how the slope is "bumped up" and then once it reached vertical status, it "ran over". Reversals like this signal the complete end of an uptrend. Take a look at the blue lines. These are your major support levels.