Resistance becomes Support (Weekly Chart)

You do not need to draw many lines this here. Key points here
1. Resistance becomes Support
2. Breakout of the resistance line at 40.00 (Round number)
3. Pullback and a bull hammer candle
In today idea I do not want to write a complete book about this chart, because the chart speaks for itself. But there are a point here:
The PE Ratio is: 49.37 looks high for you? This is relative for some investors. There is no absolute truth about the PE Ratio or else no one would buy this action because the PE is High.
Material for learning:
investopedia.com/articles/trading/08/trading-breakouts.asp
stockcharts.com/school/doku.php?id=chart_school:chart_analysis:support_and_resistance
onlinetradingconcepts.com/TechnicalAnalysis/Candlesticks/Hammer.html
rediff.com/money/report/perfin-pe-ratio-helps-you-buy-great-stocks/20090814.htm
investopedia.com/university/peratio/peratio1.asp

Opinions are for educational purposes. I am not licensed to provide investment advice