I have been wrong on $SHAK in 2017. I expected the market to keep SHAK in consolidation, with a bearish bias. I was right in June when price retreated before hitting $40. But, I did not expect support to hold at $30 again. It did. Then on the subsequent rally, I expected resistance at $40 again, but price broke out of the 2-year long consolidation. SHAK Daily Chart (click to enlarge) Breakout and Pullback:- The daily chart shows that the market has been in consolidation since the start of 2016, and it wasn't until the end of 2017 when price rallied above that 2016 high at $44.- Now, this bullish breakout was sharp, but there wasn't as much volume as I would like to see.- Also, the fact that on the pullback, the RSI went to 30 shows that the bullish momentum died.- However, despite losing some confidence on the bullish reversal scenario, there are a couple other signs that this market is indeed turning bullish.- The fact that price held above the 200-day simple moving average (SMA) is a strong confirmation that the market might have turned bullish.- Also, the market is essentially respecting the previous resistance as support.- NOW, let's see if the RSI can push back above 60. If NOT, the market might need to consolidate further before deciding whether to extend the bullish breakout, or to retreat to the the 2016-2017 lows.