I like the break out potential here and have been on the...

I like the break out potential here and have been on the sidelines for a while watching this one brew.

On the weekly, MSB is threatening to break out of its long term downtrend. You can see that price excursions find their extreme at the downsloping trend line.

As well from about Oct 2017 there's a very obvious breakout point that has so far acted as price resistance ($1.95).

Further, the 52 week high (the orange Donchian line) is now sitting just above current price action. This is often the setup rquired to allow a large move to unfold.

Lastly. I use my longer term Stochastic Indicators to look at the structure of the market. Without going into too much detail, the grey indicator represents short term interest, and the blue one longer term investor momentum.

What I tend to look for is the blue stochastic traversing up and over the red line at 50. This is indicating longer term strength. As an example, I have circled two points on the indicator where the grey line reaches an extreme, while the blue line remains under 50. This to me indicates a short term price excursion away from the longer term mean.

The last circle shown shows some bullishness, but it was quite spikey and once it made an extreme, prcie collapsed. You often see this once when a bear market is trying to end - it has a first shot at hitting the falling Donchian 52 week line, only to come back down again and start a consolidation period.

So the next few weeks are interesting for me. We now have the grey line reaching an extreme, and the blue line starting to rouse out of its slumber. We may find that we consolidate for a week or two here, and then thrust up and over the 1.95 mark.

  
On the daily there's a minor channel that captures some price action.
Id like price to consolidate within this channel and proceed to push up and over 1.95 in the coming fortnight. A bcaktest of this price area that holds would be extremely bullish for a resurgent MSB IMHO