Bullish Breakout of Lightning CloudThe stock has formed an inverted head and shoulder pattern in Apr, 2020 and turned the outlook to positive. The prices are supported by a bullish trendline, which also confirms a positive trend. In addition, the stock has broken above the upper boundary of a bullish flag pattern and has just broken above the lightning cloud with a larger white candle. The 50-day (blue line) moving average is turning up and is likely to cross above the 250-day (red line) one in sight. The daily RSI is supported by a bullish trendline and is heading upwards above its neutrality level at 50%. The MACD is above the 0-level and is turning up, while the MACD histogram is narrowing.
In sum, the technical picture of the stock is positive. Above lighting cloud, the stock is likely to further upside and challenge the next resistance at $100 again. A break above this level would call for a further advance towards $103 (127.2% fib. Extension between point A and B).
