Big Lots $BIG has been in a correction mode since surging to $64 in January. There was a sharp pullback to around $53. Price has since been range bound as we can see on the daily chart below.BIG daily Chart(click to enlarge)Breakout and Pullback:- In the daily chart, we can see that the recent dip is a pullback from a previous bullish breakout that started in September. - Price drove out of a consolidation triangle and then range, opening a bullish outlook.- The fact that price is still holding above the 200-day simple moving average suggests that this bullish outlook is still valid. Also, the RSI has been staying above the 40 level, which is also a good sign for the bullish outlook.Short-term Risk:- In the short-term however, while overall market sentiment is tentative, we can see BIG slip further towards the $52 level. - For now, I think if the market can hold above $52, it still holds a bullish outlook originating from the turn-of-the-year bull run.