Strong Weekly Breakout

The stock recently experienced a robust breakout on the weekly chart, with a history of multiple consolidations at the current breakout level. Despite a failed attempt to break resistance in October 2021, last week marked a significant breakthrough. The stock consolidated sufficiently and broke the resistance with a strong bullish candle.

The volumes leading up to the breakout were notable, indicating substantial accumulation before the breakout. This suggests a heightened level of interest and buying activity. Traders and investors often view such well-supported breakouts, especially after a series of consolidations, as compelling indicators of potential sustained upward momentum in the stock.